ALBERT C. RITCHIE, GOVERNOR. 397
City Commission, be and the same are hereby authorized to
construct and improve roadways, alleys, curbs, sidewalks and
gutters in the said town of Cottage City, Maryland, when,
where, and in the manner to be determined by the Cottage
City Commission.
SEC. 2. And be it further enacted, That to effectuate the
construction of roadways, alleys, curbs, sidewalks and gutters
mentioned in the preceding section, the Cottage City Commis-
sion are hereby authorized and empowered to borrow from
time to time, on the credit of the town, a sum or sums of
money which shall not, however, exceed in amount at any
one time the total sum of ten per centum of the assessed valua-
tion of all real and personal property in the town appearing
on the assessment books of Prince George's County, State of
Maryland, and to issue bonds or certificates of indebtedness
therefor, which shall be payable on or before ten years from
the date of issuance, with interest not to exceed the rate of
six per centum, payable semi-annually, unless of shorter dura-
tion, then at the maturity of said obligation. The funds de-
rived from the sale of said bonds or certificates of indebtedness
shall be deposited by the Cottage City Commission in some
safe banking institution in the State of Maryland, to be deter-
mined by them, and to be subject to the check of the town
treasurer only when countersigned by two members of the
Cottage City Commission. Out of said funds shall be paid
only the proper expenses for the negotiation, sale and liquida-
tion of said bonds or certificates of indebtedness and for the
planning and construction of the roadways, alleys, curbs, side-
walks and gutters as provided for herein.
SEC. 3. And be it further enacted, That the Cottage City
Commission be and they are hereby authorized to do all acts
not specifically mentioned herein which may be necessary to
issue and sell said bonds or certificates of indebtedness, pro-
vide for the payment thereof, and the interest thereon, and to
arrange for and construct the roadways, alleys, curbs, sidewalks
and gutters as provided for herein. The bonds or certificates
of indebtedness hereunder shall be the direct obligation of
the town of Cottage City, and the said corporation shall be
responsible therefor.
SEC. 4. And be it further enacted, That the Cottage City
Commission shall have power to assess against the abutting
|
 |