ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

309

That the president and directors of the Union Bridge water com-

pany of Carroll county, Maryland, a body corporate under the

general laws of this State, are hereby authorized and empowered

to issue bonds or certificates of indebtedness to an amount not ex-

ceeding fifteen thousand dollars in sums of not less than one hun-

dred dollars each, bearing interest at a rate not exceeding sax per

cent, per annum, said bonds or certificates of indebtedness to be

Issue
bonds.

due and payable at such time or times as said president and

directors may designate, and said company is hereby empowered,

with the consent of a majority of its stockholders at a meeting to

be held for that purpose, of which ten days' notice shall be given

to each stockholder to pledge the property of said company by

mortgage or otherwise for the payment, principal and interest, of

such evidence of indebtedness as may be issued in pursuance of

this act; provided, that said bonds or certificates of indebtedness

shall not be disposed of at less than their par value.

SEC. 2. Be it further enacted, That this act shall take effect from

Effective.

the date of its passage.

Approved April 3, 1890.

CHAPTER 284.

AN ACT to authorize and empower the commissioners of Mechan-

icstown to purchase a lot of ground in Mechanicstown and erect

a hose house and town hall thereon, and to borrow the neces-

sary money to pay for the same, not exceeding the sum of one

thousand and two hundred dollars, and to issue bonds therefor.

SECTION 1. Be it enacted by the General Assembly of Maryland,

That the commissioners of Mechanicstown be and they are hereby

To pur-

authorized and empowered to purchase a suitable lot of ground

chase.

in the village of Mechanicstown and to erect a hose house and

town hall thereon.

SEC. 2. And be it enacted, That the said commissioners of

Mechanicstown are hereby authorized and empowered to issue

bonds of said commissioners of Mechanicstown to an amount not

exceeding one thousand and two hundred dollars in the aggregate,

Issue

in sums of not less than one hundred dollars each, to be signed

bonds.

by the president of said board of commissioners and countersigned

by the clerk thereof; said bonds to bear interest payable annually

on the first day of September in each and every year, at a rate of

interest not exceeding six per centum per annum, for which in-

terest proper coupons shall be attached to said bonds, signed and

countersigned as aforesaid.

SEC. 3. And be it enacted, That said bonds shall be issued pay-