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Session Laws, 1924
Volume 568, Page 282   View pdf image (33K)
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282 LAWS or MARYLAND. [CH. 128

due and payable and where payable, the time of maturity: of
the said certificate, when it shall be entirely paid, which time
shall not be more than five years from its date, and the said
certificate shall show upon its face, that it was issued on ac-
count of and to pay for the certain particular public improve-
ment herein before described, giving the number, and the date
of the ordinance, for the said improvement, and stating, what
public thoroughfare the money was raised by the certificate to
improve, and the said Commissioners shall provide by a levy
of taxes, ait the time of making the regular annual levy, for the
payment and retirement of the said certificate and all interest
thereon, with the right to the Commissioners to retire the said
certificate before its maturity by the payment of the principal
sum and the interest to the time of payment, the Commissioners
not to pay any interest from the date of the said payment of the
certificate in full and the time when the certificate would ma-
ture on its face, that is the Commissioners shall have the right
to redeem the said certificates at any time before the maturity
of the same, and the money for such purpose may be from other
sources than that specially levied, if there should be any money
from any other source that would be available. And provided
that at no time shall the total amount of such certificates, that
is the aggregate principal sums of all outstanding, exceed the
sum of ten thousand dollars ($10, 000. 00), and the credit, here-
by given or the power to borrow money for the said purpose
hereby granted, by the said means and manner, and for the said
purpose, shall be in addition to the lights, and powers of the
Commissioners to borrow money upon the faith and credit of
the City of Cambridge, existing heretofore, before the passing
of this Act, by which they are legally authorized and empow-
ered to borrow money for all purposes. In the selling or nego-
tiating of the said certificates of indebtedness, the Commis-
sioners may advertise the said certificates for sale by public bid,
or they may negotiate the same without any public sale doing it
direct as regular negotiable paper. Any such certificates shall
be signed by the Mayor, the corporate seal shall be attached, at-
tested by the Clerk to the Commissioners, there shall be no
coupons on the certificate, but it shall recite, on its face, when
the interest and the principal shall be due and payable, and
where payable.

SEC. 2. And be it further enacted, That nothing in this Act
shall be taken to affect any assessment or tax levied by author-
ity of any law hereby repealed, which assessment or tax is un-

 

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Session Laws, 1924
Volume 568, Page 282   View pdf image (33K)
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