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Session Laws, 1933 Session
Volume 421, Page 47   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 47

whose ability to comply with the terms of sale the said
Mayor and City Council in its discretion is satisfied.

SEC. 3. And be it further enacted, That upon the sale
of said bonds, or any part thereof, the proceeds thereof
shall be placed in a separate fund and used by the Mayor
and City Council for the purpose of paying the legal in-
debtedness of The Evitts Creek Water Company incurred
or to be incurred in the construction of said Thomas W.
Koon Dam, with the appurtenant roads, buildings, lands
and privileges, and also for the purpose of paying part of
the present floating indebtedness of the water department
of the City of Cumberland; and such part of the afore-
said contested claims as it may be legally liable to pay.

SEC. 4. And be it further enacted, That the bonds here-
under authorized shall be issued in addition to and ex-
clusive of the ten per cent, bonded indebtedness on the
assessed valuation of the property in the City of Cumber-
land authorized by Section 55 of the Charter of the City
of Cumberland.

SEC. 5. And be it further enacted, That the Mayor and
City Council shall charge and collect for the water sup-
plied to the residents of the City of Cumberland and
vicinity, a sum sufficient to pay the expenses heretofore
and hereafter necessary for the operating of the water sys-
tem of Cumberland, Maryland, and to pay for the redemp-
tion of the bonds now outstanding against the City of Cum-
berland for water improvements, and this bond issue, and
the interest on all the bonded indebtedness of the City of
Cumberland, pertaining to the water system of said City;
the full faith and credit of the Mayor and City Council of
Cumberland shall be pledged to secure the bonds issued
hereunder; and if at any time the receipts of the Water
Department shall be insufficient to pay the interest on said
bonds, to meet sinking fund requirements, and to, redeem
said bonds as they mature, then the Mayor and City Coun-
cil of Cumberland shall levy from time to time such amount
on the assessable property of the City as may, be necessary
to make up any deficit.

SEC. 6. And be it further enacted, That if the Mayor
or any member of the City Council shall, violate any of the
provisions of this Act, or expend or attempt the expendi-
ture of any of the proceeds of said bond issue for any other
purpose than herein set forth; he or they, shall, upon trial



 

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Session Laws, 1933 Session
Volume 421, Page 47   View pdf image (33K)
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