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Session Laws, 1914
Volume 533, Page 425   View pdf image (33K)
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PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 425

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Chapter 528 of the Acts of 1910 be repealed and re-
enacted with amendments so as to read as follows:

SEC. 2. Be it enacted by the General Assembly of Maryland,
That the Mayor and Council of Hagerstown, Maryland, be, and
it is hereby authorized and empowered to borrow a sum of
money not exceeding Sixty-five Thousand ($65,000.00) Dollars
on the faith and credit of the town as hereinafter provided,
which shall be known and designated as "Series One of Park
Bonds," and the money arising from their sale shall be applied
and used exclusively for acquiring land to be used for a Park
and the improvement thereof.

SEC. 3. And be it enacted, That the said Mayor and Council
of Hagerstown, Maryland, be, and it is hereby authorized and
empowered to acquire land to be used for a Park either by pur-
chase or by condemnation proceedings, within or without the
corporate limits of the town of Hagerstown, as in its judgment
it may deem best, the same if without the corporate limits of
said town of Hagerstown to be as near the corporate limits as
possible, with full power to the said Mayor and Council to use
its best judgment in the selection of the said land for a Park.

SEC. 4. And be it enacted, That to provide for borrowing
the money as hereinbefore authorized, the Mayor and Council
is hereby empowered to issue bonds in such denominations as
to it may seem best, said bonds to be signed by the Mayor and
attested by the Clerk of the Mayor and Council with the seal
of the town attached, and to bear interest at the rate of four
and one-half (4 1/2%) per cent, per annum, payable on the first
day of January and July of each year.

SEC. 5. And be it further enacted, That the said bonds when
issued shall be and they are hereby exempt from the payment
of all county and municipal taxes.

SEC. 6. And be it enacted, That to provide for the payment
of the bonds as hereinbefore authorized, as the same shall ma-
ture, and for the payment of the annual interest thereon, there
shall be levied by the Mayor and Council annually for ten years
an amount sufficient to pay the interest of the said bonds so is-
sued and at the expiration of ten years there shall be levied an-
nually by the Mayor and Council an amount sufficient to pay
the interest on the debt and Five Thousand ($5,000.00) Dol-
lars of the principal thereof until there shall remain unpaid a

 

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Session Laws, 1914
Volume 533, Page 425   View pdf image (33K)
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