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Session Laws, 1912
Volume 370, Page 48   View pdf image
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48 LAWS OF MARYLAND. [Ch. 11]

periods, the data of maturity and the date of payment. It
shall also be the duty of said treasurer upon payment being
made of any certificate of indebtedness to require the surrender
thereof and to write upon the face thereof the words "Paid
and Cancelled," together with the date of payment and sign
his name thereto. He shall then carefully preserve all certifi-
cates bo paid and cancelled among the official records of said
town.

SEC. 3. And be U further enacted, That after any such
certificate or certificates of indebtedness shall have been issued
as hereinbefore authorized it shall be the duty of the said the
Mayor and Common Council of Hyattsville, and it is hereby
required so to do, to set aside in each year an amount of money
which shall be sufficient to pay the interest on such certificate
or certificates of indebtedness as it accrues, and also to create a
sinking fund for the payment of the principal of such certificate
or certificates at the maturity thereof. That said interest and
sinking funds shall be set aside out of the revenues of said town
derived from taxation and available for general purposes and
also from the fund now required by law to be set aside for
the support and maintenance of the fire department of said
town in such proportion as the Mayor and Common Council of
Hyattsville shall by ordinance determine. That said sinking
fund shall be invested in such manner as the Mayor and Com-
mon Council of Hyattsville may determine, but it may be used
from time to .time for the payment or redemption of any such
certificate as may be offered for redemption.

SEC. 3A. And be it further enacted, That this act shall be
submitted to the approval of the voters of the town of Hyatts-
ville at a special election to be held for that purpose, and none
of the powers and authority hereinbefore vested in the Mayor
and Common Council of Hyattsville shall be exercised unless
this act shall be approved by a majority of the votes cast at such
special election. The Mayor and Common Council of said
town of Hyattsville are hereby directed to call said special
election for the submission of this act, and are hereby author-
ized and empowered to fix and determine the day and the
place of holding said election. Notice of the time and place of
holding said election, together with a copy of this act, shall
bo published at least one week before the day fixed for holding
said election in not less than one newspaper published in the
town of Hyattsville. The ballots for said election shall be pre-
pared by the said Mayor and Common Council and shall con-
tain the title of this act, and immediately under the said title
the words "For the Act" and "Against the Act".

 

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Session Laws, 1912
Volume 370, Page 48   View pdf image
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