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Session Laws, 1912
Volume 370, Page 619   View pdf image
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PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 619

SEC. 8. Be it enacted, That this act shall take effect from
the date of its passage.

Approved April 8, 1912.

CHAPTER 442.

AN ACT to authorize and empower the Burgess and Council of
Myersville, in Frederick county, Maryland, to issue and sell
bonds for a sum of money not exceeding eight thousand dol-

lars, for the purpose of installing a water system or lighting
plant in said town and to provide for the levy and collection
of all taxes necessary for the payment of the interest on said
bonds, and for the creation of a sinking fund for their pay-
ment upon maturity, with the proviso that the said issue of
bonds be first approved by a vote of the people of the said
Town of Myersville.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Burgess and Council of Myersville, in Frederick
county, Maryland, be and they are hereby authorized and
empowered to issue bonds in the name of said municipal cor-
poration to an amount not exceeding the sum of eight thousand
dollars ($8,000) ; the bonds to be issued under the provisions
of this act shall be issued in sums of not less than one hundred
dollars, nor more than five hundred dollars each, and the said
bonds shall be sealed with the corporate seal, signed by the
Burgess and countersigned by the clerk of the council of said
town; each of said bonds shall be payable thirty years after
date, to bearer, redeemable, however, at the pleasure of said
Burgess and Council at any time after the expiration of ten
years from their respective dates, bearing interest not exceeding
five per centum per annum, payable semi-annually, by the Bur-
gess and Council of said municipal corporation, on presentation
of interest coupons, to be issued with said bonds; and said
bonds shall be exempted from all county and municipal taxa-
tion in Frederick county; and provided further, that the money
arising from the sale of said bonds shall be used only in carry-
ing out such plans for the installing of a water system or a
lighting plant whichever may be adopted by an ordinance to
be passed by the Burgess and Council of said municipal corpora-
tion prior to an election to be held on the first Monday in May,
1912, as hereinafter specified; and provided further that none
of said bonds shall be sold at less than their par value.

 

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Session Laws, 1912
Volume 370, Page 619   View pdf image
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