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Code of the Public Local Laws of Maryland, 1930
Volume 377, Page 2218   View pdf image (33K)
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2218 ARTICLE 10.

for all damage or injury to the streets or private property done in laying
said pipes or constructing such other works; provided, no contract for the
supply of water shall exceed in duration twenty-five years; and the pow-
ers hereby conferred upon said Commissioners, as to making contracts
for water supply, shall also apply to their making of contracts for the
lighting of the streets of said town with gas or other method of illumina-
tion.

1804, ch. 466, sec. 83A.

105. Any contract or contracts heretofore entered into between the
Commissioners of Cambridge and the Cambridge Water Company, within
the scope of the powers embraced within the provisions of the preceding
section of this act, be and the same are hereby ratified and confirmed,
so as to bind the respective parties thereto, their successors and assigns,
during the time specified in said contract or contracts.

1898, ch. 480, sec. 3. 1900, ch. 339, secs. 2 and 3.

106. The Commissioners of Cambridge, for the purpose of putting in
sewers in the said town, are authorized and empowered, in their discre-
tion, to issue bonds, the aggregate amount whereof shall not exceed the
sum of five thousand dollars, of such form and denomination as the said
Commissioners may direct; provided, no bond for less than the sum of
one hundred dollars shall be issued. The said bonds shall bear interest
at the rate of five per centum per annum, payable semi-annually, on the
first day of January and the first day of July, in each and every year;
provided, that the first installment of interest shall become due on the
first day of January, A. D. 1899, and the subsequent installments to be
paid semi-annually as aforesaid. The said bonds shall be exempt from
State and county and municipal taxation, and they shall be divided into
two classes, one-half of the amount issued shall become due five years from
the first day of January, in the year eighteen hundred and ninety-nine;
and the other half of said amount shall become due ten years after the
last mentioned date. The Commissioners shall pay the interest on said
Bonds out of the annual taxes levied for corporate purposes, and they shall
annually set apart out of the moneys received from the County Commis-
sioners, or out of any other funds belonging to the Commissioners for cor-
porate purposes, the sum of five hundred dollars, to provide a sinking
fund for the payment of said bonds as they mature and become payable.
And the Commissioners shall invest the said sums, so annually set apart,
to provide a sinking fund for the payment of said bonds, in first mort-
gages on real estate, in Maryland State bonds, in Dorchester County bonds,
or in bonds issued by the Town of Cambridge; and a separate account
shall be kept by said Commissioners of said fund, and the money appro-
priated as a sinking fund shall, under no circumstances be used or appro-
priated for any other purposes whatsoever, and shall not be expended by
the Commissioners for any cause or object other than to pay off, or take
up the bonds issued under the authority of this sub-section, and if the Com-

 

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Code of the Public Local Laws of Maryland, 1930
Volume 377, Page 2218   View pdf image (33K)
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