|
688 LAWS OF MARYLAND. [CH. 181
CHAPTER 181.
AN ACT to authorize and empower the Mayor and Council of
Berlin, in Worcester County, to extend, add to and improve
the electric light plant of said town, and to issue and sell
for that purpose bonds of the said town in an amount not to
exceed ten thousand dollars ($10, 000), and to refer said
questions to the qualified voters of said town.
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Council of Berlin, in Worcester
County, be and they are hereby authorized and empowered to
extend, add to and improve the electric light plant in said town,
in a manner to be determined upon by them.
SEC. 2. And be it further enacted, That for the purpose of
paying for such extension of, addition to and improvement of
the electric plant, the Mayor and Council of Berlin are hereby
authorized and empowered to borrow on the faith and credit of
the said town of Berlin, the sum of ten thousand dollars
($10, 000), or so much thereof as may, in their judgment be
necessary for the said extension, addition, and improvement,
and to issue therefor bonds in denominations of one hundred
dollars ($100) or any multiple thereof, bearing interest at a
rate not exceeding five per centum (5%) per annum, payable
semi-annually.
SEC. 3. And be it further enacted, That the bonds issued
under authority, of this Act shall be dated as of the date of
their issue and they must be sealed with the corporate seal of
the said town, and signed by the Mayor and countersigned by
the Town Treasurer or other person acting in that capacity.
The said bonds shall be exempt from all State, county and
municipal taxation and they shall have written or printed on
them a distinct reference to this Act and shall be designated
as "Electric Light Plant Improvement Bonds. "
SEC. 4. And be it further enacted, That the said bonds shall
be issued so that one thousand dollars ($1, 000) of them shall
mature on the first day of the second January after the date of
their issue, and one thousand dollars ($1, 000) of them on
January the first of each year thereafter, until all of said bonds
have matured.
SEC. 5. And be it further enacted, That none of the said
bonds hereby authorized to he issued shall be issued after
January, the first, 1927.
|
 |