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Session Laws, 1916
Volume 534, Page 107   View pdf image (33K)
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EMERSON C. HARRINGTON, GOVERNOR. 107

SEC. 3. And be it enacted, That if it shall be found by the
return of the judges of said election that a majority of the
votes cast for and against the issue of said bonds, are for the
issue of the same, then it shall be the duty of the said Mayor
and Council of Loch Lynn Heights, and they are thereby au-
thorized, directed and empowered to forthwith issue said bonds
in the name of the Mayor and Council of Loch Lynn Heights,
in a sum not exceeding Fifteen Hundred Dollars ($1, 500. 00),
or so much thereof as may be necessary, for the purposes afore-
said; each of said bonds so issued, shall be for the sum of One
Hundred Dollars ($100. 00) bearing interest at the rate of 5%
per annum, interest payable semi-annually on the first day of
September and the first day of March in each and every year
that said bond shall run; said bonds shall be signed by the
Mayor and attested by the Clerk with the seal of said town
attached thereto; said bonds shall be payable as follows: One
bond on the first day of September, 1917, and two bonds each
year thereafter on the first day of September, until the entire
issue of said bonds is taken up and redeemed; reserving the
option to the Mayor and Council aforesaid, to take up and
redeem at any interest period after five years, any and all of
said outstanding bonds running more than five years, at the
face value thereof, with accrued interest; said bonds shall be
exempt from all taxation for County and Municipal purposes.

SEC. 4. And be it enacted, That the Mayor and Council
aforesaid are hereby authorized and empowered to negotiate,
sell and dispose of said bonds, either at public auction or by
sealed bids, after due notice of such sale shall be given through
one of the newspapers published in Garrett County by at least,
two insertions of said notice in said paper before the day
of sale, and said sale of said bonds, or any one of them, shall
be made to the highest responsible bidder therefor, the said
Mayor and Council, reserving the right to reject any and all
bids received for said bonds.

SEC. 5. And be it enacted, That if this Act is adopted by
the voters of said town as aforesaid, then it shall be lawful
for the Mayor and Council of said Loch Lynn Heights, and
they are hereby authorized and empowered to complete and
maintain said system of sewerage in said town, and to that
end, are hereby authorized to make all necessary contracts to
carry out the purposes and provisions of this Act, and they
may either contract the whole of said improvement, or any
part thereof, or may purchase the material and employ the

 

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Session Laws, 1916
Volume 534, Page 107   View pdf image (33K)
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