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Session Laws, 1933 Session
Volume 421, Page 83   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 83

And it shall be the duty of the City Public Accountant
(appointed under Section 90 of the City Code) to file a
special written statement with the Mayor and City Council
at the time of his annual report advising whether the opera-
tions of the Water Department during the past fiscal year
have been conducted at a profit or at a loss, and the amount
thereof.

B. ORDINARY BORROWING POWER

And be it further enacted, That said Mayor and City
Council of Cumberland shall have the power and authority
in the operations of the Water Department of the City of
Cumberland (which shall include the operations of The
Evitts Creek Water Company) to borrow such sum or sums
as may be necessary for such operation, for interest, and
to meet sinking fund or serial bond requirements, and to
pledge the faith and credit of the city therefor; provided,
however, such sum or sums of money hereby authorized to
be borrowed shall not exceed in the aggregate the total of
the estimated water rentals accrued or accruing for the
current fiscal year; and provided further that any sum or
sums so borrowed, in pursuance of the authority so given,
shall be repaid out of the water rentals charged for said
fiscal year, and thereafter collected.

C. EMERGENCY BORROWING POWER

And the said Mayor and City Council of Cumberland
shall have the further power and authority, in case of an
emergency, to borrow such additional sum or sums of
money, as may be necessary for the continued operation of
or the protection of the Water Department of the City of
Cumberland (which shall be construed to include the opera-
tions of the Evitts Creek Water Company) not to exceed
in the aggregate the sum of Fifty Thousand Dollars; pro-
vided, however, that if the said Mayor and City Council
shall decide that an emergency does exist, it shall pass a
resolution or ordinance so stating, and thereafter it shall
file a petition in the Circuit Court for Allegany County,
setting forth the existence of such emergency, its nature,
the estimated amount of money needed for its relief and
the proposed means of repayment. Upon the filing of such
petition, it shall be the duty of any Judge of said Court to
whom such petition shall be presented, to forthwith pass
an Order directing that at least five days notice of the filing
of such petition, and of its substance, object and purpose,
be immediately given by publication thereof in one or more
daily newspapers published in the City of Cumberland, and

 

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Session Laws, 1933 Session
Volume 421, Page 83   View pdf image (33K)
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