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Session Laws, 1931
Volume 580, Page 61   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR.                     61

and all bids and the right to readvertise the sale of said bonds.
Said bids shall be filed with the City Clerk and at the time and
place advertised shall be opened by him in the presence of the
Mayor and Councilmen of Frostburg, and if said bids be satis-
factory to the Mayor and Councilmen of Frostburg, it shall
sell said bonds, or any part thereof, to the highest bidder or
bidders, of whose ability to comply with the terms of sale said
Mayor and Councilmen in its discretion is satisfied.

SEC. 4. Be it further enacted, That upon the sale of said
bonds the proceeds thereof to the amount of fifteen thousand
dollars ($15, 000. 00) shall be used by the Mayor and Council-
men of Frostburg for the purpose of redeeming its outstanding
six per cent, sewer bonds, dated ^November 1, 1921, and due
November 1, 1931, to the amount, of fifteen thousand dollars
($15, 000. 00), heretofore issued by it under the authority of
Chapter 810 of the Acts of 1914 of the General Assembly of
Maryland, and that the residue of said proceeds shall be placed
in a separate fund and used by the Mayor and Councilmen of
Frostburg for the purpose of improving the general sewer
system of said municipal corporation and for no other purpose
or purposes.

SEC. 5. Be it further enacted, That for the purpose of
paying the interest on said bonds and retiring said bonds at
maturity, the Mayor and Councilmen of Frostburg shall assess
against the assessable property in the City of Frostburg in each
year during the continuance of said bonds a sum of money
sufficient to pay the interest upon said bonds, and such further
sum as may be required for the purpose of finally retiring said
bonds at maturity.

SEC. 6. And be it further enacted, That the bonds here-
under authorized shall be issued in addition to and exclusive
of the seven per cent, bonded indebtedness on the assessed valu-
ation of property in the City of Frostburg authorized' by Sec-
tion 145 of Chapter 31 of the Acts of the General Assembly of
Maryland of 1922.

SEC. 7. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and having
teen passed by a yea and nay vote, supported by three-fifths of

 

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Session Laws, 1931
Volume 580, Page 61   View pdf image (33K)
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