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Session Laws, 1937
Volume 412, Page 904   View pdf image (33K)
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904 LAWS OF MARYLAND. [CH. 456

part thereof, to the highest bidder or bidders therefor, of
whose ability to comply with the terms of sale the said Mayor
and City Council, in its discretion, is satisfied. In the event
that said bonds be sold, the proceeds thereof shall be placed
in a separate fund and shall be used for the sole purpose of
purchasing and/or remodeling any existing building and
to build a new building to be used as a City Fire Sta-
tion and to purchase fire equipment and fire alarm appara-
tus and the installation of same, and if there be a sur-
plus of money remaining after accomplishing the purpose of
this Act, so much thereof as may be needed may be used for
the purpose of purchasing and installing a police radio sys-
tem, and any further surplus shall be deposited with the sink-
ing fund trustees and shall be used as part of the sinking fund
to retire said bonds at maturity.

SEC. 4. And be it further enacted, That any and all Acts
or parts of Acts or any part or parts of the Charter of the
City of Cumberland, Maryland, conflicting in any way here-
with is or are repealed is so far and to the extent that the
same shall so conflict.

SEC. 5 And be it further enacted, That this Act shall take
effect upon the first day of June, 1937.

Approved May 18, 1937.

CHAPTER 456.

AN ACT to authorize the Mayor and City Council of Cumber-
land to issue coupon bonds in the amount of one hundred
thousand ($100, 000. 00) dollars and to provide for the
maturity thereof, and the payment of the interest thereon
and the laying of taxes to provide for the payment of the
principal thereof at maturity, and to repeal all Acts and
parts of Acts inconsistent with the provisions of this Act.

SECTION I. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Cumberland, Mary-
land, be and it is hereby authorized and empowered to issue
bonds to the amount of one hundred thousand ($100, 000. 00)
dollars, payable at the end of twenty years from the date of
issue, and to sell the same in whole or in part, and to apply
the proceeds thereof as hereinafter provided; said bonds to be
of the denomination of one thousand ($1, 000. 00) dollars each,
and shall be exempt from City, County and State taxes, and

 

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Session Laws, 1937
Volume 412, Page 904   View pdf image (33K)
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