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Code of the Public Local Laws of Maryland, 1930
Volume 377, Page 324   View pdf image (33K)
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324 ARTICLE 1A.

sections, or part or parts thereof, to be void, ineffective or unconsitutional
for any cause, shall not be deemed to affect any other section or part
thereof.

1927, ch. 706, sec. 1.

140. The Mayor and City Council of Cumberland be and it is hereby
authorized and empowered to issue "Flood Prevention Bonds of 1927" to
the amount of seventy-five thousand ($75,000.00) dollars, and to sell the
same or any part thereof; said bonds shall be of the denomination of one
thousamd ($1,000.00) dollars, and said bonds shall be exempt from State,
County and Municipal taxes, said bonds to be signed by the Mayor of the
City of Cumberland and attested by the City Clerk, with the corporate
seal of the said City thereunto attached; said bonds to bear interest at the
rate of not more than five per centum per amnum, payable semi-annually,
for which interest proper coupons are to be attached to said bonds; said
bonds to be payable to the amount of five thousand ($5,000.00) dollars in
each year after the fifth year of their issue according to the serial number
of said bonds. Before selling said bonds or -any part thereof, the Mayor
and City Council of 'Cumberland shall cause an advertisement to be in-
serted in at least two daily newspapers of the City of Cumberland once a
week for not less than two consecutive weeks, asking bids on said bonds or
any part thereof, and stating the time and place when and where said bids
will be opened. The said bids shall be filed with the City Clerk of the
City of Cumberland, and at the time advertised shall be opened by him
in the presence of the Mayor and City Council of Cumberland in public
meeting, and if the said bids are satisfactory, the Mayor and City Council
shall sell the said bonds so advertised to the highest bidder or bidders.
The Mayor and City Council of Cumberland may, if in their opinion, the
bids are insufficient, or unsatisfactory, or for any reason, refuse any and
all bids, and may re-advertise for further bids as above specified, from
time to time, until all of said bonds are sold.

1927, ch. 706, sec. 2.

141. The Mayor and City Council of Cumberland be and it is hereby
authorized and empowered to issue "Flood Prevention Notes; of 1927" to
the amount of seventy-five thousand ($75,000.00) dollars, payable in not
more than six years from the date of issue, and to sell the same; said notes
shall be of the denomination of one thousand ($1,000.00) dollars, and
shall be exempt from State, County and Municipal taxes; said notes to be
signed by the Mayor of the City of Cumberland and attested by the City
Clerk, with the corporate seal of the said City thereunto attached; said
notes to bear interest at the rate of not more than five per centum per
annum, payable semi-annually, or at maturity if said notes are payable
in six months or a lesser period of time, at the City Hall, Cumberland,
Maryland, to the holders of said notes. Said notes may be issued from
time to time, and in such amounts, and for such periods of time not in
excess of six years as the Mayor and City Council of Cumberland may

 

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Code of the Public Local Laws of Maryland, 1930
Volume 377, Page 324   View pdf image (33K)
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