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Session Laws, 1916
Volume 534, Page 148   View pdf image (33K)
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148 LAWS OF MARYLAND. [CH. 92

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Article 8, title "Cecil County, " sub-title
"Rising Sun, " be and the same is hereby amended, by adding
three additional sections thereto, to come in after Section
289B, as amended by the Act of 1912, Chapter 455, of the
General Assembly of Maryland, providing for lighting the
streets, for the use of the Town of Rising Sun, said Sections
to be numbered 289E, 289F and 289G, providing for the bond-
ing of said town.

289E. "The Commissioners of Rising Sun" are hereby
authorized and empowered to issue on the credit of said town
of Rising Sun, bonds to an amount not exceeding Eight Thou-
sand Dollars, for the purpose of constructing and installing an
electric light plant for said town, said bonds to be redeemable
at a period not exceeding twenty years from the date at which
they are issued at the discretion of the said "The Commis-
sioners of Rising Sun, " at a rate of interest not exceeding five
per centum per annum, payable semi-annually, and the faith
and assessable property of the said town are hereby pledged
for the payment and redemption of the principal and interest
of said bonds. Said bonds shall be of denomination to be
determined by the Board of Commissioners, and shall be signed
by the President of the said Commissioners, sealed with the
seal of said corporation and attested.

289F. If necessary, in order to pay the interest on said
bonds and to provide a sinking fund for the redemption of the
principal thereof, as the same shall from time to time mature,
the said Commissioners are hereby authorized and empowered
to levy an additional tax, (beyond the limit fixed for the regu-
lar town tax for said town) on the assessable property of said
town, as may be necessary therefor, but in no case shall the
tax rate for all purposes be raised so as to exceed seventy-five
cents per hundred dollars in any year.

289G. Before said bonds shall be issued for any of the
purposes aforesaid, the said "Commissioners of Rising Sun"
shall first submit said proposition to bond said town to the vote
of the legally qualified voters and taxpayers of said town, to
be held on some date to be fixed by them not earlier than one
month from the date of the passage of this Act, and not later
than six months from the passage thereof; and if at said elec-
tion a majority of the votes cast at said election shall approve
of the issue of said bonds for the purposes aforesaid, then the
said "The Commissioners of Rising Sun" shall issue said

 

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Session Laws, 1916
Volume 534, Page 148   View pdf image (33K)
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