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.ll- CB enate Sill 8®. 167 - Senator Baler -? Oon tinned) Dlrec- Bee* 13. the members of the Board of directors shall tor# per each receive fifteen dollar# per day and actual traveling die® expenses for each day spent attending setting# of said Board or while engaged'in official business under the order of the Board, the Board shall fir the compensation to Be Officer#1 paid to the other officer# named in this aetj provided* that eoispen- said Board shall* open petition of a majority of the s&tlon, electors within such district, submit to the elec tore at any how general election of said district a schedule of salaries and fixed fee# to Be paid the director# and officer# thereof. Such petition shall Be presented to the Board twenty days prior to such general election* and a schedule fee submitted upon a two-third# vote therefor shall Be put into effect open the first of the month next ensuing. birec- Sec. 14. So director or any other officer named in this act-tors not shall In any manner Be Interested, directly or Indirectly, in to Be any contract awarded hr the Board* or in the prof its to Be interes- derived therefromj and for any violation of this provision ted in such officer shall Be deemed guilty of a misdemeanor* and contract#jupon conviction thereof shall suffer a forfeiture of his office* penalty and he shall Be punished By a fine not exceeding five .hundred dollars * or By imprisonment in the county Jail not to exceed six months or By Both suoh fine and imprisonment. Sires- Sec, 15. the Board of directors* or other officers of the tors not district* shall have no power to Incur any debt, or liability to in- whatever* either By issuing bonds or otherwise* in excess of cur in- the express provisions of this act* and any debt or liability debted- incurred in excess of such express provisions shall Be and ness* remain absolutely void. when Sec* Id. the district is authorised from time to time to Issue its negotiable Bonds to obtain funds for the accompllsh-hegotla- ment of any of its corporate purposes* which Bonds shall Be Ble re- authorised By resolution of the governing Body and shall venue Be payable solely from the income and revenues to Be derived Bonds from the operation of its works or properties* a# hereinafter author-- provided, these Bonds shall not constitute an Indebtedness Issd or pledge of the: general credit of the district and shall con­tain a recital to that effect, and such Bonds- shall Be in coupon Forms form, But may Be made reglster&ble as to principal if so contracts provided in the resolution authorising the issuance thereof. & condi- the Bends shall be in the denomination of #100 or a multiple tions of thereof * shall bear Interest at a coupon rate not exceeding Bonds six percent per annum* shall mature serially or otherwise in such manner as may Be provided By the governing Body* But not later th*n forty years from their date, shall be made pay­able at such place or places within or without the State of Nevada as may Be provided By the governing body, and in the discretion of the governing Body may Be made redeemable at the option of the district prior to maturity at such pre­mium or premiums not greater than one hundred three per­cent o f the principal amount thereof m the governing Body may determine, the Bonds shall Be signed By the president -11-