Educational Bulletin

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Sec. 3. The Board of Education of any municipal school district may submit to the voters of their district at the regular or any special election called for that purpose, the question of issuing bonds and the amount thereof, which question shall be voted upon by qualified electors of the district, and if a majority of all the votes cast upon that question be in favor of the issue of such bonds, then said board shall is- svie bonds to the amount voted, in denominations of not less than twenty-fi
...ve dollars, nor exceeding five hundred dollars, and redeem- able at the pleasure of the board of education of said city, town or village, at any time after ten years. Said 'bonds ^all be given in the name of the board of education of the municipal school district issuing them, and shall be signed by the president, and attested by the clerk of such board and countersigned by the treasurer of such city, town or village where such district is situated, and shall not be sold for less than ninety-five cents on the dollar; PROVIDED, that if such bonds are issued for the building of a school house or for the enlarging or re- pairing of a school building; that the contractor constructing the same may receive in payment, such bonds at their face value, or at the price offered by the highest bidder.

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