An Act To Raise the Indebtedness Limit of the Eagle Lake Water and Sewer District

Sec. 1. P&SL 1955, c. 162, §8, first sentence,  as amended by P&SL 1977, c. 51, §1, is further amended to read:

For accomplishing the purposes of this Act, said the district, through its trustees, is authorized to borrow money temporarily, and to issue therefor for the borrowing of money the interest-bearing negotiable notes of the district, and for the purpose of refunding the indebtedness so created, of paying any necessary expenses and liabilities incurred under the provisions of this Act, including the expenses incurred in the creation of the district, of securing sources of supply, taking water and land, paying damages, laying pipes, constructing, maintaining and operating a water plant and sewerage and drainage system and making extensions, additions and improvements to the same, the said district, through its trustees, may from time to time issue bonds of the district to an amount not exceeding $2,500,000 $3,500,000.

SUMMARY

This bill raises the indebtedness limit of the Eagle Lake Water and Sewer District from $2,500,000 to $3,500,000.