PUBLIC LAWS-CHS. 557, 558 -SEPT. 3 , 9, 1942 Use of bonds for specified purpose. Covenants. Restrictions. Refunding bonds. Proviso. Interest rate. Contracts for sale of bonds or acceptance of grants. system and for the improvements to the water system from net reve- nues received from the operation of those municipal utilities, and the town is further authorized to pledge the revenues from such utilities after all necessary expenses of maintenance and operation shall have been paid, in an amount sufficient to pay the principal and interest of such bonds as the same shall become due and payable. No bonds authorized to be issued for any one of the purposes herein specified in section 1 shall be used for any of the other purposes specified in such section. SEC. 5. Any ordinance of the town of Petersburg, Alaska, author- izing the issuance of these bonds or fixing the terms and covenants thereof, or both, may contain covenants by the town in order to protect and safeguard the security and rights of the holders of these bonds. SEC. 6 . No part of the funds arising from the sale of any or all of the bonds authorized by this Act shall be used for any purpose or purposes other than those specified in this Act and authorized at the election authorizing the issuance of the same. The bonds shall be sold only when and in such amounts as the common council of the town of Petersburg shall direct, and the proceeds thereof shall be used only for the purposes hereinbefore mentioned in the manner herein prescribed and under the orders and direction of the common council of the town of Petersburg, from time to time, as such proceeds may be required for such purposes. SEC. 7. If the common council of the town of Petersburg, Alaska, shall deem it advisable, any or all of the bonds, the issuance of which is authorized by this Act, may be refunded, and refunding bonds may be issued in exchange for said outstanding bonds, or may be sold at not less than par, at public or private sale, and the proceeds of such sale shall be used for the payment of the bonds being refunded: Provided, That such refunding bonds shall bear an interest rate not greater than the bonds being refunded, and the refunding bonds may mature at any time but not later than the limit of the maturity date of the bonds herein authorized, and they shall be pay- able in such amounts and at such times and places as the common council of the town of Petersburg shall prescribe. SEC. 8. The said town of Petersburg, Alaska, is hereby authorized to enter into contracts with the United States of America, or any agency or instrumentality thereof, under any of the laws of the United States enacted to encourage public works, for the relief of unemployment, or for any other purpose, for the sale of bonds issued in accordance with the provisions of this Act, or for the acceptance of a grant of money to aid the town of Petersburg in financing any public works; and to enter into contracts with any person or persons, or corporations, public or private, for the sale of such bonds, and such contracts may contain such terms and conditions as may be agreed upon by and between the common council of the town of Petersburg, Alaska, and the United States of America, or any agency or instrumentality thereof, or any such purchaser. Approved, September 3, 1942. [CHAPTER 558] September 9, 1942 tS. J. Res. 158] [Public Law 709] Senate restaurants. Transfer of manage- ment. JOINT RESOLUTION Transferring the management of the Senate Restaurants to the Architect of the Capitol, and for other purposes. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That effective September 15, 1942, the management of the Senate Restaurants and all matters connected therewith, heretofore under the direction of the Senate [56 STAT.
�
