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WHEREAS, Under the provisions of said Act of Assembly
one thousand dollars of said bonded indebtedness must be
paid off each year, whereby the taxes of said town are made
too burdensome, and the entire bonded indebtedness must be
paid off in seven years from the date of the said bonds; and
WHEREAS, It is desired that a longer time should be pro-
vided for the payment of the said bonded indebtedness; and
WHEREAS, All the holders of the said bonds are willing
that the time for the payment of the said bonds and the
bonded indebtedness should be extended.
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Preamble.
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SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Burgess and Commissioners of Williamsport,
in Washington County, in the State of Maryland, be and they
are hereby authorized and empowered to redeem each and all
of the said bonds issued by them under the provisions of
Chapter twenty-seven of the Acts of the General Assembly
Of Maryland passed at its January Session A. D. 1898, with
the consent and concurrence of the holders of said bonds, and
to issue new bonds in lieu of the bonds thus redeemed in the
following manner: that is to say, that the new bonds shall be
of the same denomination as the original bonds, and to bear
the same rate of interest, payable semi-annually. They shall
each be signed by the burgess and countersigned by the clerk
of the said Burgess and Commissioners of Williamsport, with
the corporate seal of said town affixed, and shall be registered
by said clerk in a book to be especially provided for that
purpose. They shall be exempt from municipal or county
taxation, and shall have printed on them a distinct reference
to the said Act of one thousand eight hundred and ninety-
eight, and to this Act as supplemental thereto, and they shall
be like the redeemed bonds in every respect except as herein-
after provided; and all the provisions of said Act of one
thousand eight hundred and ninety-eight, Chapter twenty-
seven, shall be and remain in force in reference to the said
bonds, except in so far as this Act shall change the same, to
the same effect and purpose as if the same were fully and at
length herein incorporated, and that this Act shall not act as
a repeal of the said Act of one thousand eight hundred and
ninety-eight, Chapter twenty-seven, but shall be merely sup-
plemental thereto.
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Authority to
redeem bonds.
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SEC. 2. Be it enacted, That the said new bonds issued as
hereinbefore provided shall be issued to the holders of the said
original bonds, their heirs, legal representatives or assigns,
with their consent, as follows:
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To whom
bonds shall be
issued.
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