JOHN WALTER SMITH, ESQ., GOVERNOR.

81

CHAPTER 71.
AN ACT to extend the privileges, enlarge the powers and
amend the Charter of the Hampstead Bank of Carroll
County, Maryland, so as to enable it to loan money on or
purchase promissory and negotiable notes, bills obligatory
or evidences of debt.
SECTION 1 Be it enacted by the General Assembly of

CHAP. 71.

Maryland, That the Hampatead Bank of Carroll county.
Maryland, be and the same is hereby authorized and empowered
to loan money on, or when it deems it desirable, to purchase
promissory and negotiable notes, bills obligatory or other
evidences of debt.
SEC. 2. And be it further enacted. That the stockholders

Authority
given.

of said bank shall be liable to the amount of their respective
share or shares of stock in said bank for all its debts and
liabilities upon note, bill or otherwise.
SEC. 3. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved March 20, 1902.

CHAPTER 72.
AN ACT to authorize the town of Kensington, Montgomery
County, Maryland, to issue bonds for the purpose of laying
sidewalks, and for other necessary public improvements in
said town of Kensington.
SECTION 1. Be it enacted by the General Assembly of

Stockholders
liable.

Maryland, That the town of Kensington be and it is hereby
authorized and empowered to issue bonds in the name of said
municipal corporation to an amount not exceeding the sum of
five thousand ($5,000) dollars, in denominations of fifty dollars
each, and each of said bonds shall be payable in twenty years
after date, to bearer, redeemable, however, at the pleasure of
said town of Kensington at any time after the expiration of
five years from their respective dates, and shall bear interest
from date of issue at an interest not to exceed five per centum
per annum, payable semi-annually, according to the tenor of
the coupons for said interest to be attached to said bonds ; and
said bonds, together with the said coupons, shall be signed by
the Mayor of said town, and countersigned by the clerk and
treasurer of said town, and the said bonds shall be exempt from
county and municipal taxation, and the said bonds shall have
printed on them a distinct reference to the Act of Assembly
authorizing the issue thereof, and shall be registered by the
6

Bonds to be
issued.