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V Direc­tors per diem Officers1 compen­sation, how fixed Direc­tors not to be interes­ted in contracts; penalty Direc­tors not to in­cur in­debted­ness, when Negotia­ble re- 1 venue bonds author­ized Forms contracts & condi­tions of bonds Sec, 13* The members of the board of directors shall each receive fifteen dollars per day and actual traveling expenses for each,day,spent attendirig meetings of said board or while engaged in official business under the order of the board; The board shall fix the compensation to be paid to the other officers named in this act; provided, that said board shall, upon-petition of a majority of the electors within such district, submit to the electors at any general election of said district a schedule of salaries and fees to be paid the directors and officers thereof. Such petition shall be presented to the board twenty days prior to such general election; and a schedule fee submitted upon a two-thirds vote therefor shall be put into effect upon the first of the month next ensuing. See, lh. No director or any other officer named in this act shall in any manner be interested, directly or indirectly, in any contract awarded by the board, or in the profits to be derived therefrom; and for any violation of this provision such officer shall be deemed guilty of a misdemeanor, and upon conviction thereof shall suffer a forfeiture of his office, 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 such fine and imprisonment. Sec, 15, The board of directors, or other officers of the district, shall have no power to incur any debt, or liability whatever, either by issuing bonds or otherwise, in excess of the express provisions of this act, and any debt or liability incurred in excess of such express provisions shall be and remain absolutely void. Sec, 16, The district is authorized from time to time to issue its negotiable bonds to obtain funds for the accomplish­ment of any of,its corporate purposes, which bonds shall be authorized by resolution of the governing body and shall be payable solely from the ineome and revenues to be derived from the operation of its works or properties, as hereinafter provided. These bonds shall not constitute an indebtedness or pledge of the general credit of the district and shall con* tain a recital to that effect, and such bonds shall be in coupon form, but may be made registerable as to principal if so provided in the resolution authorizing the issuance thereof. The bonds shall be in the denomination of $100 or a multiple thereof, shall bear interest at a coupon rate not exceeding six percent per annum, shall mature serially or otherwise in such manner as may be provided by the governing body, but not later than 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 thfc 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 pei>» cent of the principal amount thereof as the governing body may determine. The bonds shall be signed by the president -11* (Senate Bill No, 16? - Senator Baker - Continued) -11-