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Session Laws, 1927
Volume 569, Page 1616   View pdf image (33K)
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1616 LAWS OF MARYLAND. [CH. 706

opinion, the bids are insufficient, or unsatisfactory, or for any
reason refuse any and all bids, and may re-advertise for further
bids as above specified, from time to time, until all of said
notes are sold, or said notes or any part thereof may be sold
at private sale for not less than par.

SEC. 3. And be if further enacted. That upon the issuance
of said bonds or said notes or any of them the amount of
money so received therefor shall be placed in a fund and used
by the Mayor and City Council for the purposes of planning,
devising and putting into effect such flood prevention plans as
the Mayor and City Council of Cumberland may from time to
time deem advisable, and in furtherance of these purposes,
said Mayor and City Council of Cumberland may expend said
money, or any part thereof, within or without the present limits
of the City of Cumberland, and within or without the State of
Maryland, under all the powers which now prevail in or which
may hereafter be granted to the Mayor and City of Cumber-
land for the purposes of planning, devising and carrying into
effect any and all flood prevention plans which said Mayor and
City Council may from time to time deem advisable, with all
the rights, powers and privileges to the said Mayor and City
Council of Cumberland to file liens, and collect the same,
against the property benefited by carrying into effect said flood
prevention plans, which are now secured or may hereafter be
granted to said Mayor and City Council by the laws of the
State of Maryland, and when any amounts are collected from
property owners by reason of said flood prevention plans, the
money so collected shall be placed in a separate fund and used
for the purpose of retiring the said "Flood Prevention Notes
of 1927," and paying the interest on the same, and any excess
so collected over and above the amount required to retire all
of said "Flood Prevention Notes of 1927," which may be issued
under this Act, to pay the interest on the same, and to pay any
money borrowed to pay said notes as provided in Section 5 of
this Act, shall be used for the purpose of retiring and paying
the interest on the "Flood Prevention Bonds of 1927" issued
under this Act.

SEC. 4. And be it further enacted, That in the event said
bonds or notes, or any of them, are issued, the Mayor and City
Council of Cumberland shall annually levy a special tax upon
the assessable property of said City sufficient in amount to
annually provide Five Thousand ($5,000.00) Dollars, and such

 

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Session Laws, 1927
Volume 569, Page 1616   View pdf image (33K)
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