GARRETT COUNTY. 2845
year, beginning with July 1st in the year 1922, and that the said bonds,
with interest thereon, shall be paid and cancelled by the said Mayor and
Town Council of Oakland, to the amount of one thousand dollars, during
each and every year, beginning as aforesaid, until the whole of the said
bonds shall have been paid, and the date of issue shall be the same on all
bonds issued under this Act, which date shall be July 1st, 1920, and the
same shall be advertised by the Mayor and Town Council of Oakland and
sold, or so many thereof as may be necessary after advertisement, to the
highest responsible bidder for cash, or the said bonds may, after due
advertisement, be sold or so many thereof as may be necessary by sealed
bids received by the Mayor and Town Council of Oakland.
1920, ch. 614, sec. 4.
455. For the purpose of redeeming said bonds at maturity and for
securing the prompt payment of the interest thereon, the Mayor and Town
Council of Oakland shall apply any surplus which may be received from
time to time from the operation of said electric plant to the payment of
interest and principal of the bonds issued under this Act, as they mature;
and should this be insufficient for that purpose, then the Mayor and
Town Council of Oakland shall levy annually upon the assessable prop-
erty of said town such additional sum as may be necessary to pay the
interest on these bonds semi-annually and one thousand ($1,000.00) dol-
lars of the bonds annually, commencing July 1st in the year 1922, as
aforesaid; provided, however, that the Mayor and Town Council of Oak-
land shall not levy for this purpose more than twenty-five cents on each
one hundred dollars of the assessable property of said Town of Oakland,
and the funds thus arising shall not be used for any purpose other than
stated in this section.
1920, ch. 614, sec. 5.
456. For the purpose of carrying out the provisions of this Act, the
right to use the streets, avenues, lanes, alleys and ways of the Town of
Oakland, and to plant or contract for the use of the necessary poles there-
on, is hereby granted to the said Mayor and Town Council of Oakland.
1920, ch. 614, sec. 6.
457. The said Mayor and Town Council of Oakland are hereby author-
ized and directed to purchase and acquire such land, premises, rights-of-
way, streams and water courses and water power and such other prop-
erty as the said Mayor and Town Council of Oakland may deem proper
for the carrying out and rendering effective of this Act, and the said
Mayor and Town Council of Oakland are hereby clothed with the power
of condemnation under the right of eminent domain as provided in
Sections 331 to 336, both inclusive, of Article 23 of the Code of Pub-
lic General Laws of Maryland, as fully as if said sections had been
herein incorporated, and their manner of procedure of condemnation for
the purposes of this Act shall in all particulars be the same as is provided
in said Sections 331 to 336, both inclusive, of said Article 23.
|
|