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Session Laws, 1908 Session
Volume 483, Page 1173   View pdf image (33K)
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ART. 24.] WORCESTER COUNTY. 1173

town of Pocomoke City an amount not to exceed the sum of
twenty-five thousand dollars, and to issue coupon bonds there-
for in sums of not lees than one hundred dollars and not more
than one thousand dollars, to be signed by the Mayor and town
treasurer of said town, with the seal of the town affixed, and to
be registered by the town treasurer in a separate book to be
kept for that purpose, and said bonds shall bear interest at a
rate not to exceed five per centum per annum, payable semi-
annually on the first day of April and the first day of October
in each and every year, according to the tenor of the coupons
-attached to said bonds, and the principal of said bonds shall
be payable thirty years after date, and all of said bonds shall
be forever exempt from taxation except for State purposes, and
they shall be known as the Pocomoke Street Improvement
Bonds, and upon each of them shall be printed or engraved spe-
cial reference to this Act, and the election hereby directed to
be held as authorizing the issue thereof, and said bonds may
be sold by the Mayor and Council at public or private sale, as
they may think best; provided, that none of them shall be sold
for less than their par or face value, with accrued interest, and
the principal and interest of said bonds shall be made payable
at such bank or banks as the Mayor and Council shall by ordi-
nance direct, and the Mayor and Council are further author-
ized and empowered to provide for and regulate such other
details for the issuing and sale of the said bonds as are not
provided for in this Act.

SEC. 4. And be it enacted, That the money arising from the
sale of said bonds shall be paid over to the Mayor and Council
of said town, and by them it shall be deposited in some bank or
banks to be designated by them, and it shall be paid out and dis-
bursed only upon checks drawn by the Mayor and counter-
signed by the town treasurer, and the town treasurer shall keep
a full and accurate account of all moneys received for such
bonds and likewise of expenditures for improvements to the
streets, and all money derived from said bonds shall be used
exclusively for street improvement.

SEC. 5. And be it enacted, That if the decision of said elec-
tion shall be for the issue of said bonds the Mayor and Council
of Pocomoke City be and they are hereby authorized and em-
powered to take such steps and means for the improvement of
any or all of the streets, avenues, alleys or ways of Pocomoke
City by curbing, recurbing, grading, regrading, paving, shell-
ing, placing stone or other material from curb to curb or any
part thereof, widening, straightening or otherwise altering or
improving the said streets, avenues, alleys, ways or any of
them, as the Mayor and Council in their judgment may think

 

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Session Laws, 1908 Session
Volume 483, Page 1173   View pdf image (33K)
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