The undersigned electors of the Second Taxing District of the
City of Norwalk hereby request that action of the Special Committee
(removing) (suspending) (not removing) (not suspending) (failing to
remove/suspend) from the office of be disapproved by means of a referendum
election to be held thereon. (Lines for the signature and addresses
of twenty electors shall follow the above)
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The undersigned circulator hereby attests that:
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1.
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Each person whose name appears on this page personally signed
the same in my presence.
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2.
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Each person whose name appears on this page is either personally
known to me or has satisfactorily identified himself to me.
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3.
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I the signatures on this page were obtained no earlier than
six (6) months prior to the filing of this petition with the District
Clerk for the Second Taxing District of the City of Norwalk.
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I recognize that the above statement is made by me subject to
the penalties of false statement.
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Signature of Circulator
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Date
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Name of Circulator
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(to be typed or printed)
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I.
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The Waterworks and Electrical Power.
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(1)
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Liability for waterwork construction and maintenance[35]. The district shall be liable to pay all damages that
shall be sustained by any person or corporation by the taking of any
land or estate as aforesaid or by the construction or laying of any
reservoirs, pipes, pumps, aqueducts or other works for the purposes
of the waterworks. If at any time it shall appear that any damage
has occurred or may be likely to occur to any person or corporation
by reason of taking or using their land or estate for the purposes
of this act or in the construction of the waterworks, and the Board
of District Commissioners cannot agree with the owners of such property
or privilege as to the amount of compensation or damages to be paid
to them, such compensation or damages may be assessed by three disinterested
persons under oath, to be appointed by a Judge of the Superior Court
on application by either party, upon such notice as the Judge shall
prescribe. The appraisers shall report their doings and the amount
of their assessments to the Superior Court for Fairfield County. The
Court may set aside such report for any irregular or improper conduct
and may appoint another committee, but if the report is accepted,
it shall be recorded, and such assessments shall be a final adjustment
of the compensation and damages between the parties, and payment thereof
or a deposit of the amount thereof with the Treasurer of the county
for the use of such owners shall release the district from liability
to further claims for compensation or damages.
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(2)
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Obligation of the Commissioners[36]. The Commissioners shall recognize at all times, as their
primary obligation, the duty to provide a supply of pure and wholesome
water to the inhabitants of the Second Taxing District and to provide
an adequate supply of electrical power to the inhabitants of the Second
Taxing District, both at the lowest, reasonable cost, always considering
the long-term needs of the utilities. Any expansion outside the district
should be undertaken only if it is calculated to benefit the inhabitants
of the Second Taxing District and without putting them at unneeded
risk or expense.
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(3)
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Budgets and Finance[37].
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(a)
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Fiscal year: The fiscal year for the Second Taxing District
shall be for a period commencing on July 1 of each year and ending
on June 30 of the following year.
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(b)
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Accounts and procedure: The accounting for the funds and operations
of the district shall consist of three components: General District
Government, Water Department and Electric Department.
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The accounting and bookkeeping for each utility shall be maintained
separately and distinctly from the accounting and bookkeeping of the
taxing district.
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(c)
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General District Government: The General District Government
accounts shall be used to manage, operate and control the taxing district,
to maintain and keep in repair all property, both real and personal,
which the district may possess and to perform all such duties as directed
by the electors of the district at a regular or special meeting of
the district, except the general accounts shall not include funds
used for the purpose of managing, operating, controlling or maintaining
and keeping in repair all property, both real and personal, utilized
for the purposes of supplying electricity or water. Separate accounts
shall be maintained in the budget for each utility.
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(d)
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Water Department: All income from water service rates and charges
shall be applied to defray the current expenses of the Water Department
and to pay the current interest on notes, bonds or certificates of
indebtedness incurred in relation to the Water Department and to the
extinction of principal on the notes, bonds and certificates of indebtedness,
as required by holders. After the payment of current expenses, interest
and debt principal, funds shall be used for the purpose of funding
current capital projects, including replacement of facilities or the
purchase of new facilities, all for the purposes of constructing appropriate
facilities necessary for the Water Department. If a surplus exists
for the current year, funds shall be transferred to the Water Department
reserve fund for future use by the Water Department or, if a deficit
exists, funds shall be transferred from the Water Reserve Fund to
provide for current operating or capital expenses. Transfers to or
from the district account shall be made to or from the Water Reserve
Fund, as recommended by the District Commission and approved by the
electors at the annual budget meeting, or any regular or special meeting
noticed and warned for that purpose.
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The District Commissioners, acting as Water Commissioners, shall
adopt the budget of the Water Department, consisting of income from
water service, expenses, capital appropriations and the changes to
the Water Department Reserve Fund for the ensuing year no later than
the third (3rd ) Wednesday in February,
which budget shall be approved by a majority of the District Commissioners.
The budget shall then be provided to the district for the purpose
of inclusion in the annual district budget. Any request by the District
Commission for transfer of funds from the district reserve account
to the Water Department Reserve Fund, for use in the operating or
Capital Budget of the Water Department, shall be submitted as part
of the district budget.
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(e)
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Electric Department. All income from electric service, rates
and charges shall be applied to defray the current expenses of the
Electric Department and to pay the current interest on notes, bonds
or certificates of indebtedness incurred in relation to the Electric
Department and to the extinction of principal on the notes, bonds
and certificates of indebtedness, as required by holders. After payment
of current expenses, interest and debt principal, funds shall be used
for the purpose of funding current capital projects, including replacement
of facilities or the purchase of new facilities, all for the purposes
of constructing appropriate facilities necessary for the Electric
Department. If a surplus exists for the current year, funds shall
be transferred to the Electric Department Reserve Fund for future
use by the electric Department or, if a deficit exists, from the Electric
Reserve Fund to provide for current operating or capital expenses.
Transfers to or from the district account shall be made to or from
the Electric Reserve Fund, as recommended by the District Commissioners,
and approved by the electors at the annual budget meeting, or any
regular or special meeting noticed and warned for that purpose.
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The District Commissioners shall adopt the budget of the Electric
Department, consisting of income from electric service, expenses,
capital appropriations and the changes to Electric Department Reserve
Fund for the ensuing year, no later than the third Wednesday in February,
which budget shall be approved by a majority of the District Commissioners.
The budget shall then be provided to the district for the purpose
of inclusion in the annual district budget. Any request by the District
Commission for transfer of funds from the district to the Electric
Department Reserve Fund, for use in the Operating or Capital Budget
of the Electric Department, shall be submitted as part of the district
budget.
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(f)
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Procedure for adoption of budget. On or before the first Wednesday
in March, the District Commissioners shall prepare a general district
government budget, which shall include all sources of revenue to the
district, the transfer of funds between the Water or Electric Reserve
Fund and the District Reserve Fund, all expenses of the district,
including the interest and principal due on notes, bonds or certificates
of indebtedness of the district, not related to the Water Department
or Electric Department, any capital appropriations of the district,
not related to the Water Department or Electric Department, any amount
to be transferred to a special reserve fund and any amount necessary
to be collected through a tax and the application of any surplus or
deficit to the General Fund Reserve. The general water and electric
budgets shall be combined into a single district budget, for adoption
by the District Commission. The district budget shall be submitted
for the approval of the electors of the district at the annual budget
meeting.
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The Clerk of the district shall publish a summary of the district
budget as adopted by the District Commission in a newspaper of general
circulation in the City of Norwalk no later than the second Wednesday
in March, which notice shall inform the electors of the district that
the entire budget document is available for im~pection at the district
office.
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(g)
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Annual budget meeting. The annual budget meeting of the electors
of the Second Taxing District shall be held on the third Tuesday in
March of each year. At which meeting, the District Commissioners shall
present the annual budget for the ensuing fiscal year to the electors
for approval. The electors may approve, reject or reject with comment
the proposed budget as adopted by the District Commissioners by a
majority vote of the electors present and voting at the meeting. If
the budget is rejected by the electors, it shall be sent back to the
District Commissioners who shall modify the budget as they deem appropriate
by reconsidering the general district budget, the Electric Department
and the Water Department budget. The District Commissioners, after
making alterations to the general fund, Electric Department and Water
Department budgets as they deem appropriate, shall adopt a revised
budget for presentation to the electors for approval. The District
Commission shall call a special meeting of the electors for approval
of the budget as revised or resubmitted. In the event that the electors
have not approved an annual budget by July 1, the start of the fiscal
year, the prior year's budget shall be used for a period of up to
ninety Days for the purpose of continuing the business of the taxing
district and its utilities. If after ninety Days a budget is not approved
by the electors, the prior year's budget well be used on a month-to-month
basis for the purpose of continuing the operations of the district
and the Water Department and Electric Department, until such time
as a budget is approved by the electors.
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(h)
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Reserve fund: The district is empowered to establish special
district reserve funds, to be set aside in special reserve accounts,
which shall be used only for the purpose for which the fund was approved.
The reserve funds shall be approved by a majority of the electors
present and voting at the annual budget meeting, the annual meeting
or a special meeting of the electors, duly warned and noticed for
that purpose. Transfers from a special district reserve fund for other
purposes may be made only by a two-thirds majority of the electors
present at the annual budget meeting, the annual meeting or any special
meeting of the electors called for that purpose.
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(4)
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Taxation[38]. In case the income from water rents is inadequate to
meet the current expense of the waterworks and the interest of the
notes, bonds or certificates, or the income from the electric light
and power plant is at any time inadequate to meet the current expenses
of the electric light and power plant and the interest of all indebtedness
incurred on account of the electric light and power plant, a tax on
all property and persons liable to taxation in the district shall
be laid to supply such deficiency by the Board of Estimate and Taxation
of the city at any meeting called for that purpose upon application
of the Board of District Commissioners, and the tax shall be collected
in the same manner as other city taxes. The Board of Estimate and
Taxation may lay and collect taxes for the purpose of paying any and
all debts of the district and establishing a sinking fund for that
purpose. The avails of such taxes shall be paid to the Treasurer of
the district for the purposes only. The Board of Estimate and Taxation
shall lay a tax to defray the expenses of the public library of the
district to the amount appropriated by the district at any annual
or special meeting[39].
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(5)
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Liens and warrants for water rents[40]. Any claim of the district for use of water or for rent
of hydrants shall be a lien upon the real estate or property wherein
or in connection with which water was used or on which such rent was
assessed, and such lien shall have the same effect as a lien for taxes
under the provisions of the General Statutes and shall have precedence
over any prior encumbrance on such property except a tax lien. Such
lien may be foreclosed by the district before any court having jurisdiction
in the same manner as a mortgage may be foreclosed. The Board of District
Commissioners shall have power to issue warrants for the collection
of all such claims in the form prescribed by law for the collection
of taxes, or to some indifferent person named therein, who shall have
the same power to levy and collect the same as have collectors of
town taxes.
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(6)
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Accounts and reports of the Board of Commissioners[41]. The Board of District Commissioners shall keep a record
of its proceedings and an accurate account of its receipts and disbursements
appertaining to the Water and Electric Department and a like account
of its receipts and disbursements in connection with all other properties
of the district, verified by proper vouchers, which accounts shall
be open at all reasonable time to inspection by any taxpayer of the
district. The Board shall annually render to the district a statement
of the accounts, and which statement shall be approved by a majority
of the District Commissioners and recorded in the records of the district.
The Board shall include in its annual report a statement of its doings
and a general statement of the condition of the Water Department,
the Electric Department and the property of the district, with an
estimate of all sums required for the Water Department, the Electric
Department and other purposes of the district, a detailed estimate
of all income expected to be received and an estimate of the surplus
or deficit, the amount needed to be raised by taxation and a detailed
statement of all claims outstanding against the district.
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The Treasurer of the district shall keep a record of proceedings
and an accurate account of receipts and disbursements, verified by
proper vouchers, which accounts shall be open at all reasonable time
to inspection by any taxpayer of the district. The Treasurer shall
render annually to the district a statement of the accounts, and which
statement shall be sworn to by the Treasurer and recorded in the records
of the district.
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All financial reports, statements and accounts of the district
and its Treasurer, commissions, boards and committees shall be audited
at least annually by an independent auditor who shall be a public
accountant, certified as such, by the State of Connecticut. The independent
auditor shall be appointed by the Board of District Commissioners;
which appointment shall be ratified by the electors of the district
at the annual budget meeting.
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(7)
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Supplying water or electricity to any person or corporation[42]. The Board of District Commissioners may, with the consent
of the electors of the district, supply water from the Water Department
or electricity from the Electric Department of the district to any
person or corporation within or without the geographical limits of
the district.
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(8)
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Unlawful destruction of waterwork property; violations and penalties[43]. Any person who shall willfully injure the water in any
reservoir, aqueduct, hydrant, pipe or pump or destroy or injure any
portion of the works or any material or property used in connection
therewith shall be fined not more than $500 or imprisoned not more
than one year, or both. The district shall have power to enact bylaws
at any annual or special meeting imposing penalties and forfeiture
for the violation of any of the rules and Regulations of the Board
of Commissioners of the district, provided such penalties or forfeitures
shall be in accordance with those prescribed for Class C misdemeanors
in the State of Connecticut for each offense. The bylaws shall not
become effective until ten Days after the date of publication in a
newspaper having a circulation in the district.
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(9)
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Brooks and streams[44]. The Second Taxing District of the City of Norwalk, successor
to the City of South Norwalk, shall have the full and exclusive right,
privilege and power to take, acquire and use the waters of the "Wilton
Branch," so-called, of the Silvermine Stream, emptying into the Norwalk
River and of the North Wilton Brook, Barrett's Brook or Comstock's
Brook, as the brook is locally known, also emptying into the Norwalk
River, to and including the headwaters of the stream and brook and
the tributaries thereof, all to be used and employed by the district
in accordance with the provisions of An Act to Provide a Supply of
Pure and Wholesome Water to the City of South Norwalk, approved July
22, 1874, and any and all acts amendatory thereof.
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(10)
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Providing and selling water[45]. The exclusive right and privilege to provide and sell
water by means of reservoirs, conduits and pipes within the limits
of the City of Norwalk is granted to the First Taxing District of
the City and to the Second Taxing District of the City; the area to
be supplied by the districts, respectively, to be as agreed upon by
and between the respective Boards of Commissioners of the districts.
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(11)
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Authorization to erect loft or factory building[46]. The Second Taxing District of the City of Norwalk is
authorized to erect on land now owned by the district, or on land
contiguous thereto which shall hereafter be acquired by the district,
a suitable loft or factory building, or buildings, and to rent or
lease the same to manufacturers who shall desire to locate and conduct
business therein. Any loft or factory building erected by the district
shall be managed and rented or leased on behalf of the district by
its District Commissioners.
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(12)
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Obtaining land for factory building[47]. For the purpose of erecting such building or buildings
the district is authorized to obtain such additional land by gift
or purchase as shall be necessary therefor, and to borrow money for
the purchase of such land and the erection of such building or buildings,
and to secure the money so borrowed by mortgage on the land, or on
the land and building or buildings.
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(13)
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District meeting for proposed factory building[48]. Before purchasing any additional land or erecting any
loft or factory building, the District Commissioners shall submit
the proposition to purchase any land or to erect any such building
at a regular or special meeting of the district; and such meeting
shall determine the advisability of such proposed purchase of land
or erection of building or buildings, the amount of money to be expended
and the amount to be borrowed therefor, the amount of mortgage to
be executed and delivered to secure such borrowed money, and the terms
of such mortgage; and the District Commissioners shall not purchase
any land, erect any loft or factory building or buildings or borrow
any money for such purpose or purposes unless instructed by the district
so to do.
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(14)
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Sale of land[49]. The Second Taxing District is authorized to sell and
convey any land owned or which shall hereafter be owned by the district
which is not or at any time shall not be required for the purposes
of the district, but no such sale or conveyance shall be made unless
the District Commissioners have been authorized by regular or special
meeting of the district to sell and convey the same.
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(15)
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Pensions for employees of Board of Electrical Commissioners;
repeal of 1937 act[50]. Number 244 of the Special Acts of 1937 is repealed.
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(16)
|
Fund distribution and liquidation[51]. The Board of Electrical Commissioners of the Second Taxing
District of the City of Norwalk is authorized to provide suitably
for any persons now receiving the benefits of the act out of monies
now in the pension fund therein provided for in the same manner and
the same amount as provided under the act, and, after making provision
for the persons, to administer and liquidate the balance of any monies
remaining in the fund in a manner fair and equitable to those contributing
thereto.
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J.
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Authorization to Issue Bonds: Water or Electric Works.
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(1)
|
Authorization to issue bonds; Water or Electric Works bond issue
of 1917[52]. The Second Taxing District of the City of Norwalk is
authorized to issue serial bonds to an amount not exceeding four hundred
thousand ($400,000) dollars registered or with coupons attached, bearing
interest at a rate not greater than four and one-quarter percent per
annum, payable semiannually, the first installment of such bonds to
mature within three years from the date of issue and the remainder
of the principal thereof to be payable at some certain time or times
not later than thirty years from the date thereof. Such bonds shall
be sold at not less than par and the avails thereof used only for
the extension, improvement and enlargement of the water or electric
works, or both, of the district, including the building and equipping
of a new plant.
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(a)
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Water or Electric Works bond issue of 1917; details[53]. The district, at any special meeting of the legal voters
thereof, duly warned and held, shall determine, subject to the foregoing
limitations, the several and aggregate amounts of such bonds, the
annual rate of interest thereon, the dates and times of the issue
and maturity of the same, the manner in which such bonds shall be
issued, and the person or persons by whom such bonds shall be signed,
executed, negotiated, sold and delivered on behalf of the district;
and such bonds, when so signed, executed, issued and delivered, shall
be obligatory upon the district and upon the inhabitants thereof according
to the tenor of the same.
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(2)
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Authorization to issue bonds; Water Bond Issue of 1923[54]. The Second Taxing District of the City of Norwalk is
authorized to issue bonds to an amount not exceeding three hundred
thousand ($300,000) dollars, registered or with coupons attached,
bearing interest at a rate not greater than five (5%) percent per
annum, payable semiannually. Such bonds shall be issued in serial
form, payable, as consecutively numbered, in such equal amounts each
year, beginning five (5) years after their date, that the whole amount
thereof shall be paid within a time not exceeding forty (40) years
from their date. Such bonds shall be sold at not less than par and
the avails thereof used only for the extension, improvement and enlargement
of the waterworks of the district including a new or additional filtration
plant.
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(a)
|
Water Bond issue of 1923; details[55]. The district, at any special meeting of the legal voters
thereof, duly warned and held, shall determine, subject to the foregoing
limitations, the several and aggregate amounts of such bonds, the
annual rate of interest thereon, the dates and times of the issue
and maturity of the same, the manner in which such bonds shall be
issued, and the person or persons by whom such bonds shall be signed,
executed, negotiated, sold and delivered on behalf of the district;
and such bonds, when so signed, executed and delivered, shall be obligatory
upon the district and upon the inhabitants thereof according to the
tenor and purport of the same.
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(b)
|
Water Bond issue of 1923; payment provisions[56]. After the issue of the bonds hereby authorized, or of
any part thereof, the Board of Estimate and Taxation of the City of
Norwalk shall annually make an appropriation and levy taxes to pay
the interest on such bonds, and shall also annually appropriate, and
levy taxes to raise, such sum or sums of money as shall be requested
by the Commissioners of the district for the purpose of paying such
bonds at maturity, which money, when so raised, shall be deposited
at interest in the sinking fund of the Second Taxing District and,
with its increase, shall be used and expended only for the payment
of such bonds.
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K.
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Authorization to Issue Bonds: Street Paving Bonds.
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(1)
|
Authorization to issue bonds; Street Paving Bonds of 1923[57]. The Second Taxing District of the City of Norwalk is
authorized to issue serial bonds to an amount not exceeding seventy-eight
thousand ($78,000) dollars registered or with coupons attached, bearing
interest at a rate not greater than five percent per annum, payable
semiannually, the first installment of such bonds to mature four years
from the date of issue, the second installment of such bonds to mature
seven years from the date of issue and the third installment of such
bonds to mature ten years from the date of issue. Such bonds shall
be sold at not less than par and the avails thereof used only for
the purpose of paying, canceling and retiring notes in equal amount
issued by the district for the purpose of paying and retiring certain
street paving bonds which matured August 1, 1922.
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(a)
|
Street paving bonds of 1923; details[58]. The district, at any special meeting of the legal voters
thereof, duly warned and held, shall determine, subject to the foregoing
limitations, the several and aggregate amounts of such bonds, the
annual rate of interest thereon, the dates and times of the issue
and maturity of the same, the manner in which such bonds shall be
issued and the person or persons by whom such bonds shall be signed,
executed, negotiated, sold and delivered on behalf of the district;
and such bonds, when so signed, executed, issued and delivered, shall
be obligatory upon the district and upon the inhabitants thereof according
to the tenor and purport of the same.
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(b)
|
Street paving bonds of 1923; payment provisions[59]. After the issue of the bonds hereby authorized, or of
any part thereof, the Board of Estimate and Taxation of the City of
Norwalk shall annually make an appropriation and levy taxes to pay
the interest on such bonds, and shall also annually appropriate and
levy taxes to raise such sum or sums of money as shall be required
to pay such bonds at maturity, which money, when so raised, shall
be deposited at interest in the sinking fund of the Second Taxing
District and, with its increase, shall be used and expended only for
the payment of such bonds.
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(c)
|
Street paving bonds of 1923; limitation on amount[60]. The amount of the bonds issued under §§ 1-97
to 1-100 of the Prior Charter with the amount of the outstanding indebtedness
of the City, shall not exceed, exclusive of the amount of bonds issued
for water supply and of notes or other evidences of indebtedness placed
in the sinking fund, five percent of the grand list of the City.
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L.
|
Authorization to Issue Bonds: Public Improvement Bonds.
| ||
(1)
|
Authorization to issue bonds; Public Refunding of Bonds of 1925[61]. The Second Taxing District of the City of Norwalk is
authorized to issue bonds to an amount not exceeding thirty thousand
($30,000) dollars registered or with coupons attached, bearing interest
at a rate not greater than five percent per annum, payable semiannually,
which bonds shall be sold at less than par and shall be serial in
form, payable, as consecutively numbered, so that the whole amount
shall be paid within a time not exceeding thirty (30) years from their
date. The avails of such bonds shall be used only to refund certain
public improvement bonds issued by the district under its former name
of the City of South Norwalk which are to mature July 1, 1925.
| ||
(a)
|
Public refunding bonds of 1925; details[62]. The district, at any special meeting of the legal voters
thereof, duly warned and held, shall determine, subject to the foregoing
limitations, the several and aggregate amounts of such bonds, the
annual rate of interest thereon, the dates and times of the issue
and maturity of the same, the manner in which such bonds shall be
issued and the person or persons by whom such bonds shall be signed,
executed, negotiated, sold and delivered on behalf of the district.
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(b)
|
Public refunding bonds of 1925; payment provisions[63]. After the issue of the bonds hereby authorized, or of
any part thereof, the Board of Estimate and Taxation of the City of
Norwalk shall annually make an appropriation and levy taxes to pay
the interest on such bonds, and shall also annually appropriate and
levy taxes to raise such sum or sums of money as shall be determined
by the district, which money shall be deposited at interest in the
sinking fund of the Second Taxing District and, with its increase,
shall be used and expended only for the partial or complete payment
of such bonds at maturity.
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(c)
|
Public refunding bonds of 1925; limitations[64]. The amount of the bonds issued under the provisions of
this act, with the amount of the outstanding indebtedness of the district
and the City, shall not exceed, exclusive of the amount of bonds issued
for water supply and of notes or other evidences of indebtedness placed
in the sinking fund, five percent of the grand list of the City.
| ||
M.
|
Authorization to Issue Bonds: Water Refunding Bonds.
| ||
(1)
|
Authorization to issue bonds; Water Refunding Bond Issue of
1925[65]. The Second Taxing District ofthe City of Norwalk is authorized
to issue bonds to an amount not exceeding ninety thousand ($90,000)
dollars, registered or with coupons attached, bearing interest at
a rate not greater than five percent per annum, payable semiannually,
which bonds shall be sold at not less than par and shall be in serial
in form, payable, as consecutively numbered, so that the whole amount
shall be paid within a time not exceeding thirty years from their
date. The avails of such bonds shall be used only to refund certain
water bonds issued by the district under its former name of the City
of South Norwalk which are to mature July 1, 1925.
| ||
(a)
|
Water refunding bond issue of 1925; details[66]. The district, at any special meeting of the legal voters
thereof, duly warned and held, shall determine, subject to the foregoing
limitations, the several and aggregate amounts of such bonds, the
annual rate of interest thereon, the dates and times of the issue
and maturity of the same, the manner in which such bonds shall be
issued and the person or persons by whom such bonds shall be signed,
executed, negotiated, sold and delivered on behalf of the district.
| ||
(b)
|
Water refunding bond issue of 1925; payment provisions[67]. After the issue of the bonds hereby authorized, or of
any part thereof, the Board of Estimate and Taxation of the City of
Norwalk shall annually make an appropriation and levy taxes to pay
the interest on such bonds, and shall also annually appropriate and
levy taxes to raise such sum or sums of money as shall be determined
by the district, which money shall be deposited at interest in the
sinking fund of the Second Taxing District and, with its increase,
shall be used and expended only for the partial or complete payment
of such bonds at maturity.
| ||
N.
|
Authorization to Issue Bonds: Water Bond Issue of 1953[68]. The Second Taxing District of the City of Norwalk is
hereby authorized to issue bonds to an amount not exceeding five hundred
thousand ($500,000) dollars, registered or with coupons attached,
bearing interest at a rate not greater than five percent per annum,
payable semiannually. Such bonds shall be issued in serial form, payable
as consecutively numbered, in such approximately equal amounts each
year, beginning two years after their date, that the whole amount
thereof shall be paid within a time not exceeding twenty years from
their date. Such bonds shall be sold at not less than par and the
avails thereof used only for the extension, improvement and enlargement
of the waterworks of the district, including a new or additional filtration
plant.
| ||
(1)
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Water bond issue of 1953; details[69]. The district, at any special meeting of the legal voters
thereof, duly warned and held, shall determine, subject to the foregoing
limitations, the several and aggregate amounts of such bonds, the
annual rate of interest thereon, the dates and times of the issue
and maturity of the same, the manner in which such bonds shall be
issued, and the person or person by whom such bonds shall be signed,
executed, negotiated, sold and delivered on behalf of the district;
and such bonds, when so signed, executed, issued and delivered, shall
be obligatory upon the district and upon the inhabitants thereof according
to the tenor of the same.
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(2)
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Water bond issue of 1953; payment provisions[70]. After the issue of the bonds hereby authorized, or of
any part thereof, the Board of Estimate and Taxation of the City of
Norwalk shall, if requested by the Commissioners of the district,
annually make an appropriation and levy taxes to pay the interest
on the bonds, and shall also annually appropriate and levy taxes to
raise such sum or sums of money as shall be requested by the Commissioners
of the district for the purpose of paying such bonds at maturity and
the money shall be deposited at interest in the sinking fund of the
Second Taxing District and, with its increase, shall be used and expended
only for and in the payment of such bonds.
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