Chap. 0455 An Act to authorize the town of arlington to refund certain indebtedness.

Be it enacted, etc., as follows:
Section 1. Section two of chapter one hundred and forty-nine of the acts of the year eighteen hundred and ninety-nine is hereby amended by striking out the word "May", in the third line, and inserting in place thereof the word : - March, - so as to read as follows : - Section 2. For the purpose of refunding or paying the outstanding note of the town of Arlington, issued under a vote passed on the twenty-eighth day of March in the year eighteen hundred and ninety-eight, to provide funds for the erection of a new schoolhouse called the Locke School, the board of selectmen of said town are hereby authorized to issue twenty negotiable notes or bonds of the town, each for the sum of fourteen hundred and fifty dollars, and made payable one in each consecutive year beginning with the day of issuing the same. Said notes or bonds shall not be sold for less than par, shall bear interest at a rate not exceeding four per cent per annum, payable semi-annually, shall be signed by the treasurer and countersigned by the board of selectmen of said town and shall be denominated on the face thereof, Arlington Locke School Loan. All premiums received on the sale of said notes shall be applied to the payment of the same.
Section 2.   This act shall take effect upon its passage.
Approved June 2, 1899.