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Session Laws, 1922
Volume 563, Page 7   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 7

ate preservation of the public safety and health of said town of
Oakland, and being passed upon a yea and nay vote supported
by three-fifths of all the members elected to the two Houses
of the General Assembly, the same shall take effect from the
date of its passage.

Approved March 1st, 1922.

CHAPTER 5.

AN ACT to authorize the Mayor and Councilmen of Frostburg
to issue bonds to the amount of Fifty Thousand Dollars for
the purpose of paying the said city's proportional cost of
paving and repaving, grading and re-grading streets, lanes
and alleys within said town or any part thereof, and pro-
viding generally for the advertisement and sale of said bonds
and the redemption of the same at maturity, together with
the interest thereon when and as the same becomes due and
payable.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and Councilmen of Frostburg be,
and it is hereby authorized and empowered to issue bonds to
an amount not exceeding Fifty Thousand Dollars ($50, 000)
and to sell the same; said bonds shall not be issued in less sum
than One Hundred Dollars ($100) but may be issued in sums
of One Hundred Dollars or any multiple thereof, and shall be
exempt from state, county and municipal taxes and be signed
by the Mayor of the City of Frostburg and attested by the City
Clerk with the corporate seal of said city thereunto attached;
said bonds to bear interest at the rate of not more than five per
centum per annum payable semi-annually, for which interest
proper coupons are to be attached thereto, said bonds to be-
come due and payable at a time not exceeding twenty-five years
after their date and to be redeemable at the pleasure of the
said corporation at any time after ten years from their date,
but before said bonds are issued the Mayor and Councilmen
shall cause an advertisement to be inserted in at least two daily
newspapers printed and circulated in Allegany County once a
week for not less than two consecutive weeks, asking bids on
said bonds and stating time and place when and where said bids
will be opened. Said bids shall be filed with the City Clerk
and at the time advertised shall be opened by him in the pres-


 

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Session Laws, 1922
Volume 563, Page 7   View pdf image (33K)
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