Chap. 248.—An ACT to Authorize the Trustees of the Town of Manches-
ter to issue Bonds for Improvements in said Town.

Approved March 27, 1873.

Whereas, under the laws existing, the trustees of the town
of Manchester are restricted in borrowing money for the use of
the town and issuing bonds of the town to an amount not to
exceed five thousand dollars at any one time; and whereas, the
recent extension of the corporate limits of said town, and the
consequent opening and widening of streets, have necessitated
the creation of a floating debt, and the rapid growth of the
town render other improvements absolutely necessary, for the
payment of which said floating debt, and the making of the
aforesaid improvements, the said sum of five thousand dollars,
to which the trustees of said town are limited as aforesaid, is
wholly inadequate ; and whereas, further, the levying of a direct
tax for the purposes above-mentioned, would be a burden too
heavy to be borne by the inhabitants of said town: therefore,

1. Be it enacted by the general assembly, That the trustees
of the town of Manchester be and they are hereby authorized
to borrow for the use of said town a sum of money not to ex-
ceed twenty-five thousand dollars, and to issue therefor coupon
or registered bonds of said town, in sums of one hundred dol-
lars or multiples thereof, redeemable within a period not
longer than thirty-four years from the date of issue, and bear-
ing interest at a rate not to exceed legal interest, payable semi-
annually.

2. The said trustees are further authorized to convey, mort-
gage and pledge any property and resources of the said town
for the redemption of said bonds so issued as aforesaid, as well
as the interest thereon.

3. This act shall be in force from its passage.