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Session Laws, 1947
Volume 411, Page 134   View pdf image (33K)
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134 LAWS OF MARYLAND. [CH. 95

in connection with any Federal funds which may be made
available, to erect and construct a municipal building in
which to house and maintain the offices of said Town and also
the fire company thereof and to purchase the land necessary
for said municipal building and/or any other land needed
for the municipal purposes of said Town; including but not
limited to land to be used for parks and playgrounds, the
particular purpose or purposes to be determined by said
Burgess and Commissioners.

226B. The Burgess and Commissioners of Funkstown shall
have authority to prescribe, by ordinance or resolution, the
form and tenor of such bonds, the rate of interest not ex-
ceeding 5 per cent, the dates of issuance, the portions of
said bonds to be issued from time to time, at specified dates,
and the time and place for the payment of said bonds and
interest. Such bonds shall be in coupon form, shall be in
denominations of $100 or any multiple thereof and may be
made registerable as to principal. Such bonds shall be is-
sued upon a twenty-year serial maturity plan and a portion
thereof shall be retired annually. Such bonds shall be exempt
from all State, County and municipal taxation.

226C. After the issuance of such bonds authorized herein
and until all the bonds so issued have matured and been
redeemed, the Burgess and Commissioners of Funkstown
shall annually levy a special tax, in addition to the other
taxes authorized by this sub-title, on the assessable property
of said town sufficient to pay the interest on the bonds out-
standing and the principal of bonds maturing during the
succeeding year. S'aid tax shall become a lien upon the prop-
erty assessed and shall be collected in the same manner as
other taxes.

226D. Before any bonds shall be issued, and sold pursuant
to this sub-title, the question of such issue shall first be
submitted to the legally qualified voters of Funkstown at a
regular or special municipal election or elections on such date
or dates not later than December 31, 1949, as shall be deter-
mined by the Burgess and Commissioners of said Town.
There shall be printed on the ballots to be used and under-
neath said title, on separate lines a square or box to the
right of and opposite the words "For Bond Issuance", and
a corresponding square or box to the right of and opposite
the words "Against Bond Issuance", so that the voters shall
be able to designate by a cross mark in the proper square
or box his or her decision for or against said bond issue. If
a majority of the votes cast shall be "For Bond Issuance",

 

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Session Laws, 1947
Volume 411, Page 134   View pdf image (33K)
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