HENRY LLOYD, ESQUIRE, GOVERNOR.
CHAPTER 176.

AN ACT to authorize the Mayor and Common
Council of Westminster to fund the float-
ing debt of the city of Westminster, exist-
ing on the first day of February, in the year
eighteen hundred and eighty-six, to an
amount not exceeding three thousand dol-
lars.

291

WHEREAS the Mayor and Common Council
of Westminster is now indebted unto sundry
persons in various sums of money, aggregating
the sum of three thousand dollars and up-
wards; and

WHEREAS the said Corporation is desirous
of funding said indebtedness at a lower rate
of interest, and of securing the payment there-

Preamble.

of to the various parties to whom said indebt-
edness is respectively due and owing; there-
fore,

SECTION 1. Be it enacted by the General .As-
sembly of Maryland, That the Mayor and
Common Council of Westminster be and it is
hereby authorized and empowered to fund the
floating debt of the said Corporation as the
same may have existed on the first day of
February, in the year eighteen hundred and
eighty-six, and remains unpaid, and for that
purpose to issue bonds of the said Corporation

Preamble.

to an amount not exceeding three thousand
dollars, signed by the Mayor, sealed with the
seal of the Corporation, and attested by the
Clerk thereof; said bonds to bear interest at
a rate not exceeding five per centum per an-
num, payable annually, and to be in sums not
exceeding one hundred dollars each, and" pay-
able at such times as the said Corporation
may direct, not exceeding ten years from the
date of issue, and said bonds to be exempt
from taxation for county or municipal pur-
poses.

To fund the
floating debt.