Chap. 0383 An Act to authorize the city of Gloucester to incur indebtedness for street improvements.

Be it enacted, etc., as follows:
Section 1. The city of Gloucester for the purpose of laying out, establishing, constructing and improving, either by macadam, paving or asphalt, Washington, Main, Prospect and East Main streets, and Essex, Western, Maplewood and Eastern avenues within the limits of said city, and for defraying the cost of any real estate or interest therein purchased or taken for any of said purposes, and for paying all expenses incidental thereto, may incur indebtedness to an amount not exceeding one hundred and fifty thousand dollars, and may from time to time issue negotiable bonds, notes or scrip therefor, but not exceeding in amount the sum of fifty thousand dollars in any one municipal year. Such bonds, notes or scrip shall be denominated on their face, City of Gloucester Street Improvement Loan, Act of 1898, shall be signed by the treasurer and countersigned by the mayor of said city, shall be payable in periods not exceeding thirty years from the date of issue, shall bear interest at a rate not exceeding four per cent, per annum, payable semi-annually, and shall not be considered or reckoned in determining the limit of indebtedness of said city. The proceeds of said loan shall be used for the purposes authorized by this act and no other.
Section 2. Except as herein otherwise provided the provisions of chapter twenty-nine of the Public Statutes and of all acts in amendment thereof or in addition thereto shall apply to the indebtedness hereby authorized and the securities issued hereunder, and to the establishment of a sinking fund for the payment thereof at maturity.
Section 3. The city council of said city shall have authority and power to lay out, widen, straighten, discontinue, relocate, establish the grade of and otherwise alter, any of the highways named in section one of this act within the limits of said city, but the same shall first
be acted upon by the board of aldermen. Any party aggrieved by such laying out, widening or other alteration shall have the same remedies as in the case of town ways : provided, however, that nothing in this act shall be construed so as to exclude the jurisdiction of the county commissioners.
Section 4. The county commissioners of the county of Essex, upon petition of the city council of said city, may allow from the treasury of said county to said city such sums of money as they may think just and equitable, to indemnify said city in part for the expense incurred in laying out, constructing, widening or otherwise altering and improving any county highway, or part thereof, under the provisions of this act, in carrying out any order of the city council relating thereto, including the expenses of taking land therefor. All money so repaid, and all premiums, if any, received from the sale of such bonds, notes or scrip shall be paid over to the board of commissioners of sinking funds of said city, and be placed in the sinking fund created for the payment of the indebtedness hereby authorized. The county treasurer with the approval of the county commissioners ma3r make such loans as they may see fit, to meet said expenditure.
Section 5. No persons excepting citizens of this Commonwealth shall be employed on any work authorized by this act, preference being given to citizens of the city of Gloucester.
Section 6. This act shall be submitted for acceptance to the legal voters of the city of Gloucester at the next annual municipal election held therein, and the affirmative vote of a majority of the voters present and voting thereon shall be required for its acceptance.
Section 7. So much of this act as authorizes the submission of the question of its acceptance to the legal voters of said city shall take effect upon its passage. If duly accepted as above-provided it shall take full effect from the date of its acceptance, but otherwise it shall be null and void. Approved April 29, 1S9S.