538 LAWS OF MARYLAND. [CH. 262
SEC. 132-D. Said bonds to be free from income and munici-
pal taxes.
SEC. 132-E. 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 President and Commissioners of the town of
Elkton are hereby authorized and empowered to levy au addi-
tional tax beyond the limit fixed by law for the regular town tax
of said town on the assessable property of said town as may be
necessary therefor, but in no event shall the tax rate of said
town for all purposes be raised above 75 cents per hundred
dollars.
SEC. 132-F. Before the said bonds shall be issued for the
purposes aforesaid the said the President and the Commis-
sioners of the town of Elkton shall first submit said proposition
to bond said town to the vote of the property owners, male and
female, over twenty-one years of age, of said town. Said elec-
tion to be held on some date to be fixed by them, the said the
President and Commissioners of the town of Elkton, not earlier
than thirty days from the date of the passage of this Act and
not later than sixty days from the passage thereof; and all
persons, male and female, who are the owners of properly, in
their own right or that of their husband or wife, and who have
paid their taxes to the said town of Elkton, for the preceding
year, shall be eligible and entitled to vote at said election,
whether registered or not, upon production of their tax receipt
for the preceding year. And if 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 President and Commis-
sioners of the town of Elkton, shall issue said bonds in the way
and manner and for the purposes hereinbefore provided; and
should a majority of the votes cast at said election be against
the issuing of said bonds, then this Act is hereby repealed. And
the said the President and the Commissioners of the town of
Elkton are hereby fully authorized to pass all necessary ordi-
nances and to make the necessary appointments and arrange-
ments for the purpose of holding said election and ascertaining
the true result thereof.
SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 18th, 1916.
|
|