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Session Laws, 1924
Volume 568, Page 341   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 341

for an amount not to exceed sixty thousand dollars ($60, -
000. 00), and to levy and collect taxes upon the taxable prop-
erty within the corporate limits of the said town to pay the
interest upon and to redeem the said bonds when the inter-
est and the bonds mature, for the purpose of acquiring land
and erecting thereupon a municipal building, and authoriz-
ing and empowering the said Commissioners to acquire said
land, within the said corporate limits, for the said purpose.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the ''Commissioners of Cambridge, " the governing
body of the municipal corporation of Cambridge, in Dorches-
ter County, State of Maryland, be, and they are hereby author-
ized and empowered, in their discretion, to borrow a sum of
money, not to exceed sixty thousand dollars ($60, 000. 00), and
to issue and sell interest bearing coupon bonds for said sum,
upon the faith and credit of the said municipal corporation of
Cambridge, the said bonds to be issued by what is known as
the serial annuity plan, in six series, of ten thousand dollars
($10, 000. 00) each, each series to be designated by letters, be-
ginning with the letter "A" for the first series, the letter "B"
for the second series, the letter "C" for the third series, the
letter "D" for the fourth series, the letter "E" for the fifth
series, and the letter "F" for the sixth series, each series to be
ten $1, 000. 00 bonds, each of which in each series is to be num-
bered from one to ten, beginning the first bond as "Series A-l"
and so on to and including the number ten, the second series
to be numbered "Series B-l" on to and including the number
ten, and so for the entire issue of the bonds for whatever sura,
not exceeding $60, 000. 00, that the said Commissioners, in
their discretion, may issue, the said bonds to bear such a rate
of interest, as the said Commissioners may determine, but not
to exceed five and one-half per centum (5½%), the said inter-
est to be due on the first day of each month of July, and Janu-
ary, following their issue, the said bonds to be dated with a
date of thirty (30) days after the date on which the said Com-
missioners, exercising their said discretion, shall decide to is-
sue the said bonds, the said issue shall be designated "Cam-
bridge, Maryland, City Hall Bonds, " followed by the date of
their issue to be printed on each bond, and the words "City
Hall Bond, " and also the year issued, shall be printed on each
coupon, each bond to be signed by the Mayor and Treasurer
of Cambridge, each coupon to be signed by the Treasurer, the
signature on the bonds and coupons may be either printed fac

 

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Session Laws, 1924
Volume 568, Page 341   View pdf image (33K)
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