said election shall provide a ballot box, with suitable lock and key, and the electors shall express their assent or refusal to allow the Common Council to proceed in raising the money necessary to construct the works as aforesaid, by depositing their ballots in the box provided for that purpose in their respective wards. And those electors who are in favor of granting the necessary power to the Common Council, shall each deposite a ballot containing the word "yes," written or printed thereon and those who are opposed, shall each deposite ;

a ballot containing the word "no," written or printed thereon. And a canvass and return of the votes shall be made by the inspectors of the election, in the same manner as is now prescribed by law, in regard to the canvass and return of votes for charter officers. 8. If a majority of the said electors are found to be in favor of the measure, it shall then be lawful for the Common Council to instruct the Commissioners to proceed in the work and it shall also be lawful for the Common Council to raise by loan, from time :

to time, and in such amounts as they may think fit, a sum not exceeding two million five hundred thousand dollars, by the creation of a public fund or stock, to be called, " The Water Stock of the City of New-York," which shall bear an interest not exceeding five per cent, per annum, and shall be redeemable at a period of time not less than ten, nor more than fifty years, from and after the passage of this act. 9. It shall be lawful for the said Mayor, Aldermen and Commonalty to determine what shall be the nominal amount or value of each share of the said stock, and of what