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Session Laws, 1937
Volume 412, Page 907   View pdf image (33K)
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HARRY W. NICE, GOVERNOR. 907

said principal sum with the trustees of the sinking fund of the
City of Cumberland, and it shall be the duty of the trustees
of the sinking fund to invest such sums so paid to them for
said purpose, together with all interest which may accrue, in
proper securities, and they shall have power to purchase
bonds issued hereunder for said sinking fund.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Cumberland shall cause proper advertisement
to be made stating the time and place where bids, condi-
tioned as the said Mayor and City Council may require, will
be opened for the sale of said bonds as a whole or in parts, re-
serving unto itself the right to reject any and all bids. Said
bids, together with such certified checks as may be required,
shall be filed with the City Clerk, and at the time and place
advertised, shall be opened by him in the presence of the
Mayor and City Council, and if said bids be satisfactory to
the Mayor and City Council, it shall sell said bonds, or any
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
constructing an elevated highway from the east side to the
west side in the vicinity of Park Street and Green Street, in
order to eliminate grade railway crossings in the middle of
said City, and such other expenses as may be immediately inci-
dent thereto and if there be a surplus of money remaining
after accomplishing the purposes of this Act the said surplus
shall be deposited with the sinking fund trustees and shall be
used as part of the sinking fund to retire said bonds at ma-
turity.

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with is or are repealed in so far and to the extent that the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 458.

AN ACT to add a new section to Article 89B of the Annotated
Code of Maryland (1935 Supplement), title "State Roads",
said new section to be known as Section 7A 1/2 and to follow

 

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Session Laws, 1937
Volume 412, Page 907   View pdf image (33K)
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