664 LAWS OF MARYLAND [CH. 417
to sell said bonds at above or below the par value thereof; empow-
ering said Town Commissioners to refund any of said bonds
purchased or redeem in advance of maturity; empowering and
directing said Town Commissioners to apply to the payment of
principal and interest on said bonds and said refunding bonds any
funds received from the State of Maryland and the United States
of America, which may be properly allocable to said purpose.
Empowering and directing said Town Commissioners to contract,
to levy and to levy, impose and collect annually ad valorem taxes,
which in addition to the State and Federal allotments, if any, will
provide funds sufficient for the payment of said maturing principal
and interest; exempting said bonds and said refunding bonds and
the interest thereon from all State, County and municipal taxation
in the State of Maryland, authorizing the acquiring of the neces-
sary property real and personal, either by purchase or condem-
nation within the corporate limits of the Town of Upper Marlboro
and outside the corporate limits that may be necessary for the con-
struction, installation, improvement or extension of the water
system, sanitary and storm sewers of the Town; providing that
power to incur indebtedness and issue bonds therefore under the
provisions of any previous acts of the General Assembly of Mary-
land affecting the said Town shall be continued; and to hold an
election in the Town of Upper Marlboro to ascertain whether or
not the qualified voters within said Town approve or disapprove
the bond issue authorized by this Act.
Section 1. Be it enacted by the General Assembly of Maryland,
That as used herein the term Town shall mean the body incorporated
politic of the State of Maryland known as the Town Commissioners
of Upper Marlboro, Prince George's County, Maryland. And the
terms water system, sanitary and storm sewers shall include the
construction, reconstruction, installation, improvements, extension,
acquisition, alteration, repair and modernization of the water system,
sanitary and storm sewers now, or in the future, serving the popula-
tion of the Town, including the present plant, sites therefor, the
cost of acquiring any such sites, architectural and engineering serv-
ices, including preparation of plans, drawings and specifications for
said system or said sewers and the development of grounds and land-
scaping thereof and all customary permanent appurtenances and
equipment for said system and sewers.
Sec. 2. And be it further enacted, That the Town is hereby author-
ized and empowered to finance the construction of the water system
and sewers as defined in Section 1 of this Act, for the use of the
Town of Upper Marlboro. And in order to make such financing
possible, said Town is hereby granted the power and authority to
borrow money and incur indebtedness for such purpose from time
to time in an amount not exceeding the sum of ninety three thousand
($93,000.00) dollars, and to evidence such borrowing by the issuance
and sale of its general obligation negotiable interest bearing coupon
bonds in like amount upon terms and conditions hereinafter set
forth. Such bonds may be issued from time to time in one or more
groups or series as funds for such construction or acquisition may
become necessary provided, however, that the total debt, which may
be incurred pursuant to the authority of this Act, shall not exceed
ninety three thousand ($93,000.00) dollars.
|
|