The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1894-05-05
DUBLIc LOCAL LAW.
CHAPTER $50.

CHAPTER $50.
AN ACT TO authorize the Burgess and Com.
missioners Of Taneytown, Carroll county,
State Of Maryland, to issue its Bonds or
certificates of Indebtedness to an amount
not exceeding Six Thousand Dollars for the
purpose Of providing means for completing
the grade, paving and other improvements
of the streets, lanes and alleys Of fancy
town, Carroll county, Maryland, and the
payment of the outstanding Indebtedness.
SECTION /. BE ii enacted By the General
assembly Of Maryland, That the Burgess and
Commissioners of Taneytown, Carroll county,
Maryland, be and they are hereby authorized
and empowered to issue bonds in the name of
the Burgess and Commissioners of fancy
town, Carroll county, Maryland, in suns not
less than one hundred dollars nor more than
one thousand dollars, to be signed by the
Burgess and countersigned by the Clerk Of
the Commissioners, not exceeding the whole
sum of six thousand dollars, bearing interest,
not exceeding six per centum per annum,
payable semi-annually, on the first day OF
July and on the first day of January in each
and every year, and said bonds shall not be
disposed OF at less than the par value thereof,
and the same shall be exempt from county
and municipal taxation.
SEC. 2. And be IL enacted, That the said
bonds shall be issued payable thirty years
from date thereof, and redeemable at any
time, after the expiration of ten years from
the date thereof, at the pleasure of the said
Burgess and Commissioners of Taneytown,
Carroll county, Maryland, and the said bonds
shall be consecutively numbered as the same
shall be issued.
SEC. 8. And be 1t enacted, That the said
sum of six thousand dollars, or so much there
of as may be necessary for the purpose, shall
be, by the said Burgess and Commissioners,
used and applied to the payment of the costs
and expenses of paving, grading or macada-
MIXING and other improvements in such street
or streets, lanes and alleys in said Taneytown,
Carroll county, Maryland, as the said Burgess
and Commissioners may order and direct and
to the payment of the outstanding indebted
ness of the said corporation of Taneytown,
Carroll county, Maryland.
SEC. 4. Alsd be ii enacted, That the said
Burgess and Commissioners be and they are
hereby authorized and required, in each and
every year TO set aside out of the annual levy
of taxes collected by said corporation the sum
of five hundred dollars to pay the interest on
the outstanding bonds, by them issued under
the provisions Of this act, as the same shall
fall due, and to gradually redeem and retire
such bonds until they shall all have been re-
deemed and retired; and the said sum of five
hundred dollars shall be by the said Burgess
and Commissioners applied to the redemption
Of said bonds, when, and as soon as they shall
become redeemable, and the said sum of five
hundred dollars is hereby inviolably pledged
to the payment of the interest and principal
of said bonds.
SEC. 5. Ind be ii further enacted, That
the said Burgess and Commissioners of Tan
eytown, Carroll county, Maryland, be and
they are hereby authorized and empowered
to take the sense of the people of Taneytown,
Maryland, in relation to the issuing of the
bonds provided for in this act, by submitting
the question to the qualified voters of said
Taneytown, Carroll county, Maryland, on
such day and at said place and between such
hours of the day, as the said Burgess and
Commissioners may order and direct; and at
such election the qualified voters of said
Taneytown are authorized to cast ballot
for issuing bonds or ballot against is
suing bonds and the result of such election
shall be certified to the said Burgess and
Commissioners of Taneytown, and if ma
jority of the votes cast be for issuing bonds
the said Burgess and Commissioners shall be
forthwith authorized and empowered to exer.
else the authority vested in them by the pro-
visions of this act.
SEC. 6. And be IL enacted, That this act
shall take effect from the date of its passage.
Approved, April 6. 1894.
FRANK BROWN,
Governor.
JOHN WALTER SMITH,
President of the Senate.
JAMES II. PRESTON,
Speaker of the House of Delegates.
OFFICE OF THE SECRETARY
OF THE SENATE.
hereby certify that the aforegoing is a true
copy of an Act Of the General Assembly of
Maryland, passed at the January Session,
1894.
j. ROGER McSHERRY,
apr 81 81 Secretary of the Senate.