Chap. 0502, An Act to authorize the town of stoughton to refund certain notes issued for schoolhouse purposes.

Be it enacted, etc., as follows:

Section 1. The town of Stoughton is hereby authorized to refund notes to the amount of seven thousand dollars issued for schoolhouse purposes and coming due in May of the current year, and to issue in place thereof notes or bonds to the said amount.   Such notes or bonds shall bear interest,
payable semi-annually, at a rate not exceeding four and one half per cent per annum, and shall be signed by the treasurer of the town and countersigned by the selectmen. The town may sell the said securities at public or private sale, upon such terms and conditions as it may deem proper, provided that they shall not be sold for less than their par value. Of the said notes or bonds, two thousand dollars shall be payable in the year nineteen hundred and eleven, two thousand in the year nineteen hundred and twelve, and the remaining three thousand in the year nineteen hundred and thirteen. The sums necessary to pay the said notes or bonds shall be raised by taxation in the same manner in which the other expenses of the town are provided for. Sectiox 2.   This act shall take effect upon its passage.
Approved May 11, 1910.