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Session Laws, 1950
Volume 587, Page 404   View pdf image (33K)
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404 LAWS OF MARYLAND [CH. 85

credit a sum or sums of money not exceeding Sixty Thou-
sand Dollars ($60,000.00) in the aggregate and to evidence
said borrowing by the issuance of its promissory note or
notes or certificate or certificates of indebtedness for the
face amount equal to the amount of the borrowing, payable
as to principal and interest from the proceeds of ad valorem
taxes levied, without limitation as to rate or amount, on
all assessable property in said municipality, nothwith-
standing the provisions of any other public general or pub-
lic local law of the State of Maryland and notwithstand-
ing any other statutory tax limitation, and to use the
money so borrowed for improvements to and extensions of
the municipal water system and other public improvements
within the discretion of said Mayor and Council of Snow
Hill, each such borrowing, however, to be subject to the
approval by the qualified voters of said municipality by
referendum, and fixing a limitation on the time within
which the authority hereby conferred may be exercised.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That to enable the Mayor and Council of Snow Hill,
a body politic and corporate of the State of Maryland, here-
inafter referred to as the City, to finance extension of and
improvements to the water system of said City, and for
other public improvements, the said City is hereby authorized
and empowered, at one time or from time to time within
the period during which the authority hereby conferred may
be exercised, to borrow a sum or sums of money not exceed-
ing sixty thousand dollars in the aggregate, and nowith-
standing the provisions of any other public general or pub-
lic local law to the contrary, to evidence such borrowing
by the issuance of the promissory note or notes or certificate
or certificates of indebtedness of said Mayor and Council
of Snow Hill, subject, however, to the limitations and con-
ditions hereinafter imposed.

SEC. 2. And be it further enacted as aforesaid, That before
borrowing or contracting to borrow any funds or issuing its
said note or notes, or certificate or certificates of indebted-
ness as aforesaid, the said City shall, by appropriate resolu-
tion, submit to a referendum of the quallified voters of said
City the question whether or not the authority hereby con-
ferred shall be exercised. For the purpose of submitting
said question the City is hereby empowered to order a spe-
cial election at such time and place, within the corporate
limits of Snow Hill, Maryland, as said City by resolution
may determine; or said question may be presented at any
municipal election in said town. Public notice of such spe-
cial election, or of the submission of said question at any


 

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Session Laws, 1950
Volume 587, Page 404   View pdf image (33K)
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