1899 private laws – Ch.172 Sec.4

That in order that there may not be an accumulation of money arising either from taxation or from the rents ot waterworks and electric light systems after paying the annual interest accrued on said bonds, the board of aldermen of said town are authorized and empowered to purchase annually one twentyfifth of the bonds issued at a sum not exceeding their par value, and in case no one sha!l offer to sell one twenty-fifth of said bonds, then the said board of aldermen are authorized to designate such bonds not exceeding one twenty-fifth of the whole number issued as they may desire to purchase, and after the designation of such bonds and a notice thereof given through a newspaper published in Lincoln county, if the holder or holders of the bonds shall refuse to surrender the same and receive their par value, with accrued interest at the time of said notice, then the holder shall not receive any interest subsequently accruing: Provided, the said bonds shall be affected with the conditions of this act only when the conditions are expressed on the face of the bonds.