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Session Laws, 1953
Volume 606, Page 1679   View pdf image (33K)
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THEODORE R. MCKELDIN, GOVERNOR 1679

ing facility shall be public property and the City may pro-
vide by ordinance, for the operation of said off-street park-
ing facility and may enforce all such ordinances through
the established Police Department of said City.

799B. To effectuate the acquisition, construction and
operation of off-street parking facilities for motor vehicles
as mentioned in the preceding section, the Mayor and City
Council are hereby authorized and empowered to borrow at
any time and from time to time on the credit of the City,
an amount or amounts, in addition to any existing and out-
standing indebtedness of said City, not exceeding in the
aggregate Three Hundred Thousand Dollars ($300, 000. 00)
ONE HUNDRED AND TWENTY-FIVE THOUSAND
DOLLARS ($125, 000. 00), and to issue bonds or cer-
tificates of indebtedness therefor, which shall be pay-
able on or before 10 years from the date of issu-
ance, with interest thereon not to exceed the rate of
six per centum (6%) per annum, payable semi-annually
unless of shorter duration than at the maturity of said
obligation. The funds derived from the sale of said bonds
or certificates of indebtedness shall be deposited by the
Mayor and City Council of Hyattsville in some safe bank-
ing institution in the State of Maryland, to be determined
by it and shall be designated the Parking Lot Fund Account
and be subject to the check of the Treasurer of said City,
countersigned by the Mayor. Out of said funds shall be
paid only the proper expenses for the negotiation, sale and
liquidation of said bonds or certificates of indebtedness
heretofore issued or to be issued and the planning, con-
struction, operation and maintenance of the off-street park-
ing facilities for motor vehicles as hereinbefore mentioned,
including money hereafter paid out by the City as interest
on sums to be borrowed by the City, before the sale of said
bonds or certificates of indebtedness for payment of costs
of planning and construction of the aforesaid work.

799C. The Mayor and City Council of Hyattsville before
issuing any of such bonds or certificates of indebtedness
shall, by ordinance, determine the project or projects for
which funds are required, and the money so borrowed, or
the indebtedness incurred, in evidence of which said bonds
or certificates of indebtedness shall be issued, shall be used
by the City exclusively and solely for the project or projects
described in said ordinance. The Mayor and City Council
are hereby authorized to do all acts not specifically men-
tioned herein which may be necessary to issue and sell said
bonds or certificates of indebtedness, to provide for the



 

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Session Laws, 1953
Volume 606, Page 1679   View pdf image (33K)
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