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Session Laws, 1941
Volume 582, Page 301   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 301

Bonds of 1942", and they shall all be dated January 1, 1942-
Said bonds may be issued in two or more series from time
to time as funds are needed to carry out said refunding op-
erations by meeting the maturities above described, or if it
shall appear to be more feasible and economical by reason
of market conditions and in order to reduce the cost of
printing and advertising, etc., the Mayor and Council of
Crisfield may issue the entire amount of bonds hereby
authorized at one time as of their date of issue. All of said
bonds shall be in denominations of One thousand dollars
($1, 000) each, and they shall be numbered consecutively
from No. One (1) to No. Forty-one (41), irrespective of
the actual time of issue and sale. If said bonds are issued
and sold in series from time to time then each series shall
bear a different series letter, beginning with the letter "A",
but as above provided, all of said bonds shall be dated Jan-
uary 1, 1942, irrespective of their actual date of sale, and
all of said bonds shall mature and become payable twenty
(20) years from date of issue on January 1, 1962. Said
bonds shall bear interest at a rate not exceeding five per
centum (5%) per annum which may be fixed in advance
of sale by the Mayor and Council of Crisfield or may be
determined at the time of sale in the manner hereinafter
prescribed. Said interest shall be payable semi-annually,
for which proper interest coupons shall be attached to
each of said bonds. All of said bonds shall be suitably litho-
graphed, printed or engraved; shall be signed by the Mayor
of Crisfield, and the corporate seal of said municipality
shall be affixed to each of said bonds, attested by the City
Clerk of Crisfield. The coupons attached to said bonds shall
bear the facsimile signature of said Mayor, printed, litho-
graphed or engraved thereon. Each of said bonds shall
contain an appropriate recital on its face to the effect that
they are issued upon the full faith and credit of the Mayor
and Council of Crisfield, and each of said bonds shall also
contain on its face a distinct reference to this Act by quo-
tation of the title hereof. Said bonds may be issued subject
to registration as to principal only, with the City Clerk
of Crisfield acting as Registrar, and, in the discretion of
the Mayor and Council of Crisfield, they may also be issued
subject to a reservation of the right of prior redemption
by the Mayor and Council of Crisfield upon such terms and
conditions and under such circumstances as may be re-
cited on the face of said bonds and as may be set forth in
the ordinance of the Mayor and Council of Crisfield here-
inafter provided for. In all other particulars, not herein
otherwise limited, the Mayor and Council of Crisfield shall
have full discretion and power to determine all dils con-

 

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Session Laws, 1941
Volume 582, Page 301   View pdf image (33K)   << PREVIOUS  NEXT >>


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