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Session Laws, 1933 (Special Session)
Volume 578, Page 147   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 147

(d) To redeem the bonds, and to covenant for their re-
demption, and to provide the terms and conditions thereof.

(e) To covenant against extending the time for the
payment of bond interest, directly or indirectly, by any
means or in any manner.

(f) To covenant as to its books of account and as to
the inspection and audit thereof and as to the accounting
methods.

(g) To make covenants other than, and in addition to,
the covenants herein expressly authorized, of like or dif-
ferent character.

(h) To make such covenants and do any and all such
acts and things as may be necessary or convenient or de-
sirable in order to secure its bonds, or in the absolute dis-
cretion of the governing body of the municipality tend to
make the bonds more marketable, notwithstanding that
such covenants, acts or things may not be enumerated
herein; it being the intention hereof to give a municipality
power to do all things in the issuance of bonds and for
their security that may be consistent with the Constitution
of Maryland.

SEC. 10. And be it further enacted, That all of the
bonds issued and sold pursuant to any of the provisions of
this Act shall be and remain the direct, valid and binding
obligation of the municipality issuing them, issued upon its
full faith and credit, and any such municipality shall levy a
tax upon all the assessable property within the limits of
said municipality sufficient to pay the principal and interest
on any of such bonds as the same shall mature, in each and
every year that any of said bonds are outstanding, provided,
however, that the amount of said tax so levied in any one
year shall be reduced by the amount of any such special as-
sessments, fees, rents, tolls or other charges collected by
said municipality from said public works projects and
pledged by said municipality for the payment of the bonds
so issued pursuant to the provisions of Section 8, sub-para-
graph (b) of this Act.

Any holder of the bonds of the municipality issued pur-
suant to this Act shall have the right, subject to any con-
tractual limitations binding upon such holder, and subject
to the prior rights of others, by mandamus or other suit,
action or proceeding at law or in equity, to enforce his
rights against the municipality, and the governing body of
the municipality and any officer, agent or employee of the

 

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Session Laws, 1933 (Special Session)
Volume 578, Page 147   View pdf image (33K)
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