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Session Laws, 1920
Volume 539, Page 129   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 129

fied voters of the City of Salisbury, as provided in this

Act.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Council of Salisbury be and the
said corporation is hereby authorized, for the purpose of ac-
quiring and making alterations to the existing waterworks in
the City of Salisbury, or for the purpose of constructing a
waterworks system for the City of Salisbury, to issue bonds
to be designated "Public Waterworks Bonds," not to exceed
one hundred thousand dollars in the aggregate, on the faith
and credit of the City of Salisbury, Wicomico County, Mary-
land, or so much thereof as may be deemed expedient; pro-
vided, however, that before issuing said bonds for either of
said purposes, the Mayor and Council of Salisbury shall first
submit the question of issuing said bonds to the duly qualified
voters of the City of Salisbury for their approval at a special
election to be held for said purpose and notice of which shall
be given by the Mayor of Salisbury in one or more newspapers
published in said city for at least two weeks prior to the time
of holding such special election; said notice shall state when
and where the said election is to be held and for what purpose,
and if, at said election, a majority of the votes so cast shall
be in favor of authorizing the said bond issue, it shall then be-
come the duty of the Mayor and Council of Salisbury to issue
the same, as provided in this Act.

SEC. 2. And be it further enacted, That if the said bonds
are issued they shall be issued for not less than one hundred
dollars or multiples thereof, and of such denominations as the
Council of Salisbury may by ordinance determine, and shall
bear interest at a rate not exceeding four and one-half per
centum per annum, payable semi-annually, and shall be signed
by the Mayor of Salisbury, countersigned by the Clerk of
Salisbury and shall be sealed with the corporate seal of the
Mayor and Council of Salisbury.

SEC. 3. And be it further enacted, That the sum of two
thousand dollars of the principal of said bonds shall be paid
on the first day of January, 1936, and two thousand dollars
on the first day of January of each and every year thereafter
until the whole of said bonds is expired, and the bonds shall
be numbered consecutively from number one, and shall be
redeemed and paid as numbered. And the Mayor and Coun-

 

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Session Laws, 1920
Volume 539, Page 129   View pdf image (33K)
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