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Session Laws, 1933 Session
Volume 421, Page 926   View pdf image (33K)
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926 LAWS OF MARYLAND. [CH. 494

employment of engineering and other services, that may be
necessary for carrying out the provisions of this Act.

SEC. 2. And be it further enacted, That "The Commis-
sioners of Vienna" are authorized and empowered to bor-
row money on the faith and credit of the said Town not to
exceed in the aggregate the sum of Twenty Thousand Dol-
lars ($20, 000. 00), and to issue coupon bonds of said Town
in payment of said sum and interest to accrue. The said
bonds shall be issued in the denominations of Five Hundred
Dollars ($500. 00); each shall have coupons attached for
the interest thereon, payable semi-annually at the rate not
exceeding 6% per annum. The bonds shall be signed by
"The Commissioners of Vienna" with the corporate seal
of said Commissioners affixed and shall be registered by
the Clerk of said Commissioners in a book to be kept for
that purpose. The coupons attached to said bonds shall be
signed by the Clerk of the said Commissioners. Said bonds
shall be issued at such time as "The Commissioners of
Vienna" shall determine, subject to the provisions of this
Act. The bonds shall be designated as the "Vienna Water
and Sewerage Bonds" and numbered consecutively from
one to forty inclusive, and shall be redeemable in the order
in which they are numbered in sums of five hundred dol-
lars ($500. 00) in each and every year beginning two years
from the date said bonds are issued, the first bond re-
deemable at said date being bond No. 1 for the said sum of
Five Hundred Dollars ($500. 00), and one bond for the said
sum of Five Hundred Dollars ($500. 00) according to con-
secutive number, shall be paid each year thereafter until
all of said bonds shall have been paid. The said bonds shall
be exempt from State, County, and Municipal taxation and
shall have printed on them a reference to the Act of the
Assembly authorizing their issue.

SEC. 3. And be it further enacted, That the said bonds
shall be sold only to the highest responsible bidder, upon
the receipt of sealed bids, after due and proper advertise-
ment in the public press; provided, however, that "The
Commissioners of Vienna" may reject all bids, if they shall
deem such action advisable. "The Commissioners of
Vienna" may sell all of said bonds at one time or they may
sell them in more than one series, as they may deem ad-
vantageous in carrying on the work for which the same are
issued. The money arising from the sale of said bonds
shall be kept as a separate fund by "The Commissioners
of Vienna, " to be exclusively used for the purpose of de-
signing, installing and constructing the water supply

 

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Session Laws, 1933 Session
Volume 421, Page 926   View pdf image (33K)
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