20 LAWS OF MARYLAND. [CH. 10
SEC. 2. And be it further enacted, That the said Com-
missioners of Thurmont shall have power and authority
and are hereby required to levy all necessary taxes upon
the property within the taxable limits of said corporation
of Thurmont for the payment of the interest on the bonds
or promissory notes hereby authorized to be issued, as
well as for the payment of said bonds at maturity and shall
create a sinking fund for the purpose and levy the neces-
sary taxes therefor.
SEC. 3. And be it further enacted, That the said bonds
or notes shall be issued from time to time as the Com-
missioners of Thurmont shall deem it necessary for the
purposes of this Act and shall be sold at public or private
sale at not less than their face value, but each sale shall
be first advertised in some newspaper published in Fred-
erick County at least two weeks before the sale is made
and the proceeds thereof shall be used exclusively for the
general improvement of and benefit of said corporation.
SEC. 4. And be it further resolved, That before this
Act shall become operative to authorize the said Commis-
sioners of Thurmont to issue said bonds or promissory
notes, the question shall be submitted to the qualified
voters of Thurmont at a regular or special election for
approval or rejection by such qualified voters, and in pur-
suance of the provisions of an ordinance to be passed
therefor, of which election and the fact that the question
is to be submitted to the voters, notice shall be given at
least two weeks previous to such election, posted in five
or more public places in said town and also by at least
three insertions in the local newspaper published in Thur-
mont, if there be such paper published and if no paper is
published in said town, then in some newspaper published
in Frederick County, explaining to the qualified voters the
question to be submitted, at which election the qualified
voters of Thurmont shall determine by ballot whether
the bonds or notes hereinbefore provided shall be issued
or not and at which election there shall be written or
printed on the ballots of said voters the words "for issue
of bonds" or "against issue of bonds, " or "for loan on
promissory notes" or "against loan on promissory notes, "
and if a majority of the ballots cast shall contain the
words "for issue of bonds" or "for loan on promissory
notes, " then this Act shall become operative and binding,
but if a majority of said ballots shall contain the words
"against issue of bonds" or "against loan on promissory
notes, " then and in that event the Commissioners of Thur-
mont shall have power upon the written application
|
![clear space](../../../images/clear.gif) |