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upr000267 261

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upr000267-261
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    Amendment No. 1 Amend Section 5 page 3 « line 25 by striking out all of said section commencing with said line 25 and continuing through and including line 5 , page 7, and inserting in lieu thereof, the following: Section 16• (She district is authorized from time to time to issue its negotiable bonds to obtain funds for the accomplishment of any of Its corporate^urposes, which bonds shall be authorized by resolution of the governing body and shall be payable solely from the income 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 contain 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 *) Whenever the district proposes to issue its negotiable bonds to obtain funds for the accomplishment of SSL of its corporate purposes, the board shall by resolution, determine the amount of money necessary to be raised to accomplish such purposes, and shall immediately thereafter submit Its proposal for a bond is sue of such amount at a special election of the distriot, called for that purpose, to the electors of the district possessing the qualification* prescribed by this act,j Notice of such election must be given by posting notices thereof in three public places in each I election precinot in the distriot not less than fifteen (15) nor more than twenty (20) days before the date of election, and the publication thereof'for three weeks in some newspaper published in Clark County. Such notice shall specify the time of holding the eleotion, the amount of bonds proposed to be issued, the maximum Interest rate and m«aj«um maturity of such bonds, and shall state In substance the purpose for whioh the money so raised shall be used. Said eleotion must be held and the results thereof determined and declared in all respeots in conformity with the provisions of this act governing the election of officers, and no informalities in conducting such an election shall invalidate the same if it shall have been otherwise fairly conducted. At such