820

LAWS OF MARYLAND.

property, rights and credits, belonging thereto be answerable
for other debts and liabilities of said corporation.

SEC. 11. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 7, 1900.

CHAPTER 509.

AN ACT to authorize and empower the Mayor and Council
of Pocomoke City, Maryland, to contract, first with the own-
ers of the present electric light plant in said city to furnish
to the said city the power to run their present water plant;
or secondly, to contract to furnish to the electric light
plant sufficient power to run said plant, and in the event
of the said last-mentioned contract being made, the said
Mayor and Council of Pocomoke City are authorized and
empowered to borrow the sum of fifteen hundred dollars,
or so much thereof as may be necessary, to enable them
to purchase the necessary engines, etc.

Pocomoke
City.
Authority to
contract for
power to
operate water
plant, etc.

SECTION 1. Be it enacted by the General Assembly of Mary-
land,That the Mayor and Council of Pocomoke City are author-
ized to contract with the owner of the present electric light
plant in said city to furnish to the said city all the necessary
power to run their present water plant now owned and operated
by said city, or if in their judgment it is deemed advisable,
they are empowered to contract with the owner of the electric
light plant to furnish all the necessary power to run said
electric light plant.

Authorized to
borrow certain
sum to pur-
chase engine,
etc.

SEC. 2. And be it further enacted, That if the said Mayor and
Council decide to make the last-mentioned contract, the said
Mayor and Council are authorized and empowered to borrow
the sum of fifteen hundred dollars, or so much thereof as may
be necessary, to be used in the purchase of the engine, etc.,
necessary to the carrying out of said contract. The said
Mayor and Council are authorized to issue coupon bonds to
that amount, in sums not exceeding five hundred dpllars,

May issue
coupon bonds.

bearing not more than six per cent, interest, the coupons
being receivable for taxes. The income received from the
rental of said power shall be applied to the payment of the
interest on said bonds, and the residue of said rental shall
constitute a sinking fund which shall be used in the payment
of the principal.
Approved April 7, 1900.