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Session Laws, 1924
Volume 568, Page 194   View pdf image (33K)
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194 LAWS OF MARYLAND. [CH. 94

sale of which said bonds there was realized the sum of twenty-
five thousand, nine hundred and thirty dollars and fifteen
cents ($25, 930. 15); and

WHEREAS, There has been expended of said sum so realized
from the sale of said bonds by the Mayor and Council of
Crisfield, under order of the said State Board of Health, the
sum of eleven thousand, six hundred and twenty-seven dollars
and eighty-four cents ($11, 627. 84), leaving a balance of four-
teen thousand three hundred and two dollars and thirty-one
cents ($14, 302. 31) remaining, which sum so remaining, under
the orders of the said State Board of Health, is deposited in
the savings department of The Marine Bank of Crisfield, Cris-
field, Maryland, to the credit of Mayor and Council of Cris-
field, and bears interest at the rate of three per cent, per an-
num; and

WHEREAS, It is impossible in the present financial condition
of the said municipal corporation to build the said sewer
system in accordance with the said order of the said State
Board of Health; and

WHEREAS, The said bonds bear interest at the rate of five per
cent per annum, and the said unexpended balance as afore-
said deposited in the said Marine Bank of Crisfield only
bears interest at the rat© of three per cent per annum, and said
municipal corporation is losing two per cent per annum on
said balance on deposit in said bank; and

WHEREAS, Said municipal corporation is indebted in other
sums of money bearing interest; and

WHEREAS, It is for the best interest of the said municipal
corporation to apply the said sum so as aforesaid deposited in
said bank the payment of other indebtedness of said municipal
corporation, and thereby save to said municipal corporation two
per cent per annum on said sum so as aforesaid deposited in
the said bank; therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Council of Crisfield is hereby au-
thorized and empowered to withdraw from the Marine Bank
of Crisfield, Crisfield, Maryland, the said sum of fourteen
thousand, three hundred and two dollars and thirty-one cents
($14, 302. 31), being the amount realized from the sale of bonds
under order of the State Board of Health of Maryland, and
not heretofore expended by the Mayor and Council of Crisfield
under orders of the said State Board of Health, together with

 

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Session Laws, 1924
Volume 568, Page 194   View pdf image (33K)
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