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Session Laws, 1929
Volume 572, Page 168   View pdf image (33K)
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168 LAWS OF MARYLAND. [CH. 84
CHAPTER 84.

AN ACT to authorize and empower the Mayor and Council of
Salisbury to borrow upon the faith and credit of Salisbury
a sum of money not exceeding thirty thousand dollars
($30, 000), and to issue and sell serial coupon bonds therefor
of the par value of not exceeding thirty thousand dollars
($30, 000), to enable said municipality to complete and
equip the fire engine house of the City of Salisbury, Mary-
land, and to purchase additional fire-fighting apparatus.

SECTION 1. Be it enacted by the General Assembly of
Maryland,
That, for the purpose of providing funds for the
completion and equipment of the fire engine house of the City
of Salisbury, and for the purchase of additional fire-fighting
apparatus, the Mayor and Council of Salisbury be, and it is
hereby authorized and empowered to borrow a sum of money
not exceeding thirty thousand dollars ($30, 000), upon the
faith and credit of the City of Salisbury and to issue and sell
serial coupon bonds therefor, which said bonds shall be
known and designated as "Salisbury Fire Department Build-
ing and Equipment Bonds. "

SEC. 2. And be it further enacted, That the said bonds to be
issued under this Act shall be coupon bonds, all dated as of the
first day of June, A. D. 1929, and shall bear interest at a
rate not exceeding five per centum (5%) per annum, as deter-
mined by the Mayor and Council of Salisbury by ordinances;
shall be serial type bonds and shall all mature on or before the
first day of June, 1949; the interest thereon shall be payable
semi-annually on the first day of June and the first day of
December of each year and said bonds shall be forever exempt
from State, county and municipal taxation. Said bonds shall
be signed by the Mayor of Salisbury with the seal of the City
attached thereto, attested by the Clerk of Salisbury and the
interest coupons attached to said bonds shall be signed by the
Clerk of Salisbury or a fac-simile of his signature shall be
thereon stamped, engraved or printed. Said bonds when signed
and attested as heretofore directed shall be delivered to the
Clerk of Salisbury and the bond of the said Clerk of Salisbury
shall be responsible for the safe keeping of the said bonds and
the proceeds thereof. The Clerk of Salisbury shall sell said


 

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Session Laws, 1929
Volume 572, Page 168   View pdf image (33K)
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