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Session Laws, 1922
Volume 563, Page 15   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 15

now outstanding and this bond issue, with the right to the
trustees of said sinking fund to purchase any of said bonds
and cancel same.

SEC. 2. And be it further enacted, That the said Mayor
and City Council shall, by Ordinance, cause advertisement to
be made for at least ten days, stating the time and place where
bids conditioned as may be required by said Ordinance will be
opened for the sale of said bonds, reserving unto itself, the right
to reject any and all bids. Said bids shall be filed with the City
Clerk of the said City of Cumberland, and at the time and place
advertised, shall be opened by him in the presence of the Mayor
and City Council; and, if said bids are satisfactory to the
Mayor and City Council, it shall sell said bonds, or any part
thereof to the highest bidder or bidders, of whose ability to com-
ply with the terms of sale, the said Mayor and City Council,
in its discretion is satisfied.

SEC. 3. And be it further enacted, That upon the sale of
said bonds, the proceeds thereof shall be placed in a separate
fund, and used by the said Mayor and City Council for the
purpose of improving, repairing, extending, and other necessary
purposes heretofore and hereafter affecting the water supply
of the City of Cumberland and for no other purpose or pur-
poses.

SEC. 4 And be it further enacted, That the Mayor and City
Council shall charge and collect for the water supplied to the
citizens of Cumberland and vicinity, a sum sufficient to pay
the expenses heretofore and hereafter necessary for the oper-
ating of the water system of Cumberland, Maryland, and to pay
for the redemption of all the bonds now outstanding against
the City of Cumberland for water improvements and this bond
issue and the interest on all bonded indebtedness of the City of
Cumberland, pertaining to the water system of said city, and
the money so charged and collected shall be kept and main-
tained in a fund separate, it being the intention of this Act to
enable the Mayor and City Council of Cumberland to so oper-
ate the water supply of the said city, that the revenues there-
from shall be used to defray the heretofore or hereafter ex-
penses connected therewith, provided, if the receipts from the
Water Department shall be less than the expenses in any year
or years, the Mayor and City Council shall levy from time to
time such amount on the assessable property of the city as may
be necessary to pay the bonds issued hereunder or issued under
Chapter 8 of the Acts of the 1920 September Session of the
General Assembly of Maryland, or are hereby empowered to
borrow an amount not exceeding Thirty Thousand ($30, 000)


 

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Session Laws, 1922
Volume 563, Page 15   View pdf image (33K)
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