Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1894-04-28

acl al tue ttentral Assembly al MARY
land, passed al lis January Session.
1894, enabling the said town upon
conditions Ia establish Wafer Works.
\ BILL.
Entitled IN Act tn allow the legal and
qualified voters of the town of Snow
Till. in Worcester County 10 decide
bv ballot, whether or not town
coupon bonds. not to exceed the
amount Of eighteen thousand dollars.
shall be- issued by said town for the
purpose of providing II proper wafer
supply for said town.
SECTION |. BE il enacted bv the
General Assembly Of Maryland. That
ut the election Ia he held III the town
of Snow Hill. in Worcester County.
MARYLAND. on the first MONDAY Of
Nav. in the wear eighteen hundred
and ninety tour. for Mayor and C"nm
cilmen .: said town. that the question.
whether or mol said town shall issue
coupon bonds 10 an amount not
exceeding eighteen thousand dollars
for the purpose oi providing II proper
water supply for said town, shall. AMI
is hereby directed t" he. submitted I"
the legal and qualified voters Of said
town. and in order Ia advise the ciii-
zcns of said town OF the intent Of this
Act il shall be the duty of the Com
missioncrs of Snow Hill To publish in
some newspaper, or newspapers, at
general circulation in said town. the
substance Of this Act. for two weeks
previous 10 said election, and by such
other notice rs they may deem ncce>-
sary and proper.
SECTION 2 The election provided
for in Section one hereof shall he held
in conformity To the provisions of an
Act of Assembly of 1894. authorizing
IN election for Mayor and Councilmen
for said town. and the ballots shall
have printed "n them the words For
the issue of Water Bonds" and
Against the issue of Water Bonds"
The returns for said election shall be-
made in the same manner ~ is pro-
vided for the said municipal election,
and if a majority of the votes cast
shall be Against the issue of Water
Bonds" then and IN that case no bonds
shall he issued. but il ma ioritv OF
the votes cast shall he For the issue
of Water Bonds" then the said Mayor
and Council of Snow Hill shall issue
said bonds io the amount not exceeding
eighteen thousand dollars. a. herein
after provided.
SECTION ;. II the decision by said
election shall be For the i>>ur "t
Water Bonds" the Mayor and Conn
ell of Snow Hill are authorized and
directed io borrow. on the credit of
the town of Snow Hill, an amount mol
exceeding the sum Of eighteen thousand
dollars. and Ia issue coupon bonds
therefor in sums "i not less than one
hundred dollars. and not more than
one thousand dollars each. 10 be- signed
hy the Mayor of said town and
counte.signed by the Secretary and
Treasurer oi the corporation. with the
seal of said town attached. and Ia be
registered by said Secretary and
Treasurer in separate book kept for
that purpose; said bonds shall bear
interest AT the rate Of six per cent. per
annum. payable semi-annually on the
first day of January and July in each
and every year, until the said bonds
are paid. Said bonds shall be forever
exempt from all taxation whatsoever
except for State purposes,and shall have
printed on them distinct reference
Ia the Act and the election directing
their issue.
SECTION 1. Said bonds shall he
issued in eighteen series. each consist
ing al one thousand dollars of the said
amount. and shall he redcenable a>
follows: One thousand dollars thereof
in seven wears from the date of their
issue. AMI thereafter annually one
thousand dollars IN each and every
year until The whole amount 81 issued
shall have been paid; and said bonds
shall be sold ut public or private sale
in the discretion of said Mayor and
Council. provided that none of sad
bonds shall he sold for less than par.
SECTION >. For the purpose of
redeeming said bonds at their maturity
and for securing the prompt payment
Of the interest thereon. the said Mayor
and Council are hereby empowered
and directed to apply all net income
arising from wafer rent after the
expense Of any necessary betlerments
or proper repairs are made, first To the
payment of the interest on said bonds,
and secondly n Ia the remainder. il
there he any remainde.'. 10 be- invested
as sinking fund for the payment of
said bonds rs they respectively mature.
The coupons ON said bonds shall be
receivable by the said Mayor and
Council in payment of taxes due To
said town. la the event that the said
water rents shall not he sufficient in
amount /" pay the interest ON said
bonds or the principal thereof. as ii
shall become due. the saId Mayor and
Council shall anrually levy on the
taxable property Of said town such
sum or sums of money not exceeding
twenty cents on the one hundred dol
lars rs shall IN their discretion be
necessary, for the prompt payment Of
of the interest on said bonds, AMI the
principal thereof, when the same may
become due, and any surplus on hand,
ri any Time arising from such levy,
shall he by said Mayor and Council
invested in some safe securities as II
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