the purchase of fire alarm boxes. alarms and for and for the purchase and installation of eighty additional fire alarm boxes, and to issue its notes and bonds, or either therefor, for such time and in such amounts as may be fixed by the city council thereof and such notes may be renewed from time to time as the same become due. SEC. 2. The city council shall annually appropriate, so long as said notes or any renewals of the same or said bonds are outstanding besides a sum to pay the interest thereon, a sum to be placed as a sinking fund sufficient for the redemption of said notes or any renewals of the same or said bonds within forty years from the date of the first issue thereof, and all premiums arising from the sale of said notes and bonds shall be placed to the credit of said sinking fund. SEC. 3. passage. This act shall take effect from and after its Passed May 21, 1897. School com mittee of Prov ized to establish a Public School Teachers' Retire CHAPTER 485. AN ACT TO PROVIDE FOR THE CREATION AND DISBURSE- It is enacted by the General Assembly as follows: SECTION 1. The school committee of the city of idence author Providence shall have power to establish what shall be known as the Public School Teachers' Retirement Fund, which fund shall be administered by the board of trustees hereinafter provided for. Said fund shall consist of: ment Fund. First. All moneys received from donations, legacies, gifts, bequests, or otherwise, for or on account of said fund. Second. On and after October first, eighteen hundred ninety-seven, the school committee shall reserve and turn over to said fund one per cent. of the salaries paid to teachers who shall prior to that date elect to come under the provisions of this act; and one per cent. of the salaries paid to all teachers appointed after said date: Provided, that no teacher shall be assessed for more than one per cent. of twelve hundred dollars per annum. Third. All interest or income derived from the above moneys. ministered by SEC. 2. The president or chairman of the school Fund to be adcommittee together with three members chosen by said whom. committee, the superintendent of schools, the city treasurer of the city of Providence who shall be exofficio the treasurer of said fund, and three representatives to be elected annually by those teachers of the public schools who contribute to the support of this fund in accordance with section 1 of this act, shall form a board of trustees who shall have charge of and administer said fund, and said board of trustees shall have power to invest and re-invest the same as shall be deemed by them most beneficial to said fund, and shall make payment from said fund of annuities granted in pursuance of this act; and shall from time to time make and establish such rules and regulations for the administration of said fund as they shall deem best. SEC. 3. Whenever a teachers' pay roll shall be certified to the city auditor for payment, it shall contain a statement of the amount to be deducted from the sal. ary of each teacher who contributes to the support of said fund in accordance with the provisions of this act, which amounts shall be added by said city treasurer to said retirement fund and all amounts received by said treasurer for said fund, in accordance with the provisions of this act, shall be subject to the order of said board of trustees signed by the president and secretary of said board. Certain deducmade from roll for said tions to be teachers' pay fund. come a bene fund. SEC. 4. Every teacher who has annually contribu- Who may beted to said fund in accordance with the provisions of ficiary of said this act for at least five years, and shall have taught in public schools, if a man, not less than thirty-five years, or if a woman, not less than thirty years, twenty years of which service in both cases shall have been in the public schools of said city next preceding the time of retirement, may be retired and shall have the right voluntarily to retire from such service and be Same subject. come a beneficiary under this act; and every such teacher so retired or retiring shall be entitled to an annuity for the remainder of his or her life, to be paid by said board of trustees out of said fund equal to one-half of the salary of such teacher at the time of such retirement, at the same times and in the same proportions as the salaries of teachers are paid: Provided, that the annuity so paid shall in no case exceed six hundred dollars in any one year. SEC. 5. Every teacher in the public schools of said city, who shall have taught continuously therein not less than ten years and for not less than five years annually contributed to said fund in the manner provided in this act and has become without the fault of such teacher, mentally or physically incapacitated for such service, may retire or be retired therefrom and become a beneficiary of said fund in the same manner and to the same extent as provided in section 4 of this act: Provided, that such annuity shall cease when such incapacity ceases. SEC. 6. In case the fund should be insufficient to pay the annuities provided for in section 4 of this act, the board of trustees shall make a ratable distribution among the teachers who may be entitled to annuities under the provisions of this act. SEC. 7. This act shall take effect from and after its passage. CHAPTER 486. AN ACT AUTHORIZING THE CITY OF PAWTUCKET TO ISSUE It is enacted by the General Assembly as follows: SECTION 1. The city of Pawtucket is hereby authorized and empowered to issue its bonds to the extent of $500,000, for the purpose of funding its indebtedness incurred upon the following accounts: Extension of water works... $100,000 175,000 225,000 Opening and widening of streets, land and buildings for school purposes, land and buildings for fire stations..... Extension of sewer system.. Said bonds to run for such time, to be in such amounts and to bear such interest as may be determined by the city council thereof. Of interest thereon and SEC. 2. The city council shall annually appropriate until said bonds are paid in full, in addition to a sum sinking fund. to pay the interest thereof, a sum to be placed as a sinking fund, sufficient for the redemption of said bonds when due, and all premiums arising from the sale of said bonds shall be placed to the credit of said sinking fund. SEC. 3. This act shall take effect upon its passage. CHAPTER 487. AN ACT IN AMENDMENT OF AN ACT ENTITLED "AN ACT IN Passed April 22, It is enacted by the General Assembly as follows: Board of public works of SECTION 1. The words "board of public works are hereby substituted for the words "commissioners" Pawtucket. and "board of water commissioners" wherever said latter words appear in Chapter 702 of the Public Laws of the State of Rhode Island, passed May 30, 1878, and in all acts in addition thereto or in amendment thereof. SEC. 2. Section 5 of said Chapter 702 is hereby repealed, and the following is hereby substituted therefor: "SEC. 5. Said board of public works shall make a report in writing to the board of aldermen of all assessments made under the authority of this act, which assessments, after being confirmed by the said board of aldermen, shall be transferred to the city treasurer, To report to ments made. board of aldermen of assess Assessments who shall forthwith notify the owners of the estates so assessed of the fact and amount of the assessments made against them, which assessments shall be due and payable within sixty days from the time the same are confirmed by said board of aldermen, and if not paid within said sixty days said assessinents shall draw interest from the date of such confirmation until the date of payment, at the rate of six per cent. per annum." SEC. 3. All assessments so made, confirmed and notified, shall constitute a lien on the real estate assessed until the same are paid, and may together with same are paid. incidental costs and expenses be levied by sale thereof if said assessments are not paid within four months after the service of the notice specified in section 2 of this act, such sale to be conducted in the manner provided in Chapter 48 of the General Laws of Rhode Island for sales for the non-payment of taxes. Of apportionment of sewer assessment. SEC. 4. Section 2 of Chapter 468 of the Public Laws passed February 24, 1885, is hereby repealed, and the following is substituted therefor: "SEC. 2. If the owner of any estate within sixty days after the confirmation by the board of aldermen, of any sewer assessment made in accordance with the provisions of said Chapter 702 of the Public Laws, shall notify the city treasurer in writing to apportion the same, the said city treasurer shall apportion it into three equal parts, the first of said parts to be payable within sixty days from said confirmation, the second to be paid within one year from the termination of said sixty days, and the third within two years from the termination of said sixty days, said second and third payments to bear interest at the rate of 6 per cent. per annum, from the date of said confirmation." SEC. 5. This act shall take effect immediately. |