Daily Kennebec journal., 1922-03-03

| tablishment of adequate port facili-
| ties in the State of Maine.
BY virtue of the power therein
given and in anticipation of the adop-
ton of said Constitutional amend
n1ent, the 10th Legislature by Chap
ter 81, Private and Special Laws of
1919, passed an Act entitled "An Act
to Provide for the Building of Pub
lie Wharves and for the Establish
ment of Adequate Port Facilities and
for the Advancement of Commerce."
Section 15 of said act contains the
following provision:
From the proceeds of bonds issued
by the State of Maine for the purpose
of building and maintaining public
wharves and for the establishment of
adequate port facilities in the State
of Maine as embodied in resolution
of the Legislature proposing an
amendment to Article TX of the Con-
stitution, if said amendment shall be
adopted the treasurer of State is
hereby authorized with the approval
of the Governor and Council, to dis
burse and pay such moneys as are
herein authorized for the purpose of
carrying out the provisions of this
act. The said treasurer is further
empowered to issue bonds as author
lied by said proposed amendment, if
the same be adopted, in such form
and in such amounts not exceeding
the total set forth in said proposed
amendment, from time to time, as the
Governor and Council may deter
mine"
After the adoption of said amend
ment. and by virtue of the power
therein given, the 10th Legislature by
Chapter 123 of the Private and Spe-
cial Laws of 1919. passed an act en-
titled IAN Act to Amend Chapter 54
Of the. Private and Special Laws of
1919. entitled: An Act to Provide
for the Building of Public Wharves
and for the Establishment of Ade-
quate Port Facilities and for the Ad-
vancement Of Commerce" Section 5
of said act contains the following
provisions:
From the proceeds Of bonds is
sued by the State of Maine for the
purpose of building and maintaining
public wharves and for the establish
ment Of adequate port facilities in the
State of Maine as embodied in a res
olution of the Legislature proposing
an amendment to Article TX of the
Constitution, the treasurer of State is
hereby authorized with the approval
of the Governor and Council, to dis
burse and pay such moneys as are
herein authorized for the purpose of
carrying out the provisions of this
act. The said treasurer is further
empowered to issue bonds as auth
orized by said amendment, in such
form and in such amounts not ex-
ceeding the total set forth in said
amendment, from time TO time, as the
Governor and Council may deter
mine"
Under Council order of Jan. q,
| 1922, the treasurer Of State was
| authorized and empowered, to issue in
the name and in behalf of the State
of Maine and Sell to the highest bid
der, coupon bonds in the aggregate
! principal amount of sl,150,000, by
order of the following tenor:
The opinion then cites the order,
giving the authority of the Legisla-
ture, the purposes and description of
| the bonds, which arc to Ec paid s115,-
600 on the first days of March of the
years 1883 to 1943 inclusive; being
denomination of $1,000 each and bear
ing 4 per cent. interest. payable on
the first days of each March and
September; and the purposes to
which the proceeds shall be put.
The opinion continues:
Pursuant TO said Council order of
Jan. 27, 1922, the treasurer of state
sold part of said bonds. to wit: To
the aggregate amount of s650,00o, to
the Fidelity Trust Co. of Portland,
Me-, and such sale to the Fidelity
Trust Co, together witt, the form OF
lond and coupon adopted by the
treasurer of state, was duly approved
by order of Council of Feb. 10, 1922,
Of the following tenor in part:
1.-THE treasurer of State is further
authorized and empowered TO issue
On or before March /. 1922, or. within