The proceeds of such bonds shall be deposited in the first instance with the city
treasurer and thereafter with such depositories as the bridge commission shall direct
and the governing body of the city shall approve, shall be secured in such manner
and to such extent as the governing body of the city and the bridge commission shall
require, shall be used solely for the payment of the cost of the bridges and costs
incident thereto, and shall be drawn upon over the signatures of the chairman or vice-chairman
of the bridge commission and the secretary and treasurer thereof, and under such further
restrictions, if any, as the governing body of the city may provide. If the face amount of such bonds, less any discount on the sale thereof, shall exceed
such cost, the surplus shall be paid into the fund hereinafter provided for the payment
of the principal and interest of such bonds.
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