Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1894-04-21

Entitled IN Act 10 allow the legal and
qualified VOTERS Of the town Of Snow
Hill, in Worcester County. Ia decide
10y ballot, whether ar hot town
coupon bonds. not 10 exceed the
amount ot eighteen thousand dollars,
shall be issued by said town for the
purpose Of providing II proper water
supply for said town.
SECTION |. BE il enacted bv the
General Assembly o: Maryland, That
ut the election To- he held in the town
Of Snow Hill. in Worcester County,
Maryland, on the first Monday al
Nay. in the year eighteen hundred
and ninety TOUR, for Mayor and Coun-
cilmen OF said town. that the question,
whether or not said town shall issue
coupon bonds To an amount not
exceeding eighteen thousand dollars
for the purpose Of providing a proper
water supply for said town, shall, and
is hereby directed to be-, submitted 10
the legal and qualified voters of said
town, and in order To advise the citi-
zens of said town of the intent of this
Act il shall he the duty of the Com
mis>ioners Of Snow Hill /" publish in
some newspaper, OF newspapers, ot
general circulation in said town. the
substance of this Act for two weeks
previous To said election, and bv such
other notice as they may deem neces-
sary and proper.
SECTION =. The election provided
for i'll Section one hereof shall he held
in conformity to the provisions Of an
Act Of Assembly of 1894. authnrizing
an election for Mayor and Councilman
for said town, and the ballots shall
have printed ON them the words For
the issue Of Water Bonds" and
"a gainst the issue Of Water Bonds. !"
The returns for said election shall be
made in the same manner "a is pro-
vided for the said municipal election,
and il majority of the votes cast
shall be Against the issue of Water
Bonds" then and IN that case no bonds
shall be issued. but ii majority of
the votes east shall be For the issue
Of Water Bonds" then the said Mayor
and Council of Snow Hill shall issue
said bonds to the amount not exceeding
eighteen thousand dollars, rs herein
after provided.
SECTION 3. Ii the decision by said
election shall be "For the issue of
Water Bonds" the Mayor and Coun-
ell Of Snow Hill are authorized and
directed 10 borrow, on the credit OF
the town Of Snow Hill. an amount not
exceeding the sum of eighteen thousand
dollars, and TO issue coupon bonds
therefor in sums Of not less than one
hundred dollars. and not more than
one thousand dollars each. tn be signed
by the Mayor of said town and
countersigned by the Secretary and
Treasurer Of the corporation. with the
seal Of said town attached. and to be
registered by said Secretary and
Treasurer in II 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
to the Act and the election directing
their issue.
SECTION 1. Said bonds shall he
issued in eighteen series, each consist
ing OF one thousand dollars Of the said
amount, and shall be redeemable us
follows: One thousand dollars thereof
in seven wears from the date of their
issue, and thereafter annually one
thousand dollars in each and every
year until the whole amount so issued
shall have been paid; and said bonds
shall be sold at public ar private sale
in the discretion Of said Mayor and
Council. provided that none of said
bonds shall be sold for less than par.
SECTION >. For the purpose Of
re,leeming said bonds ut 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 water rent after the
expense Of any necessary betterments
or proper repairs are made. first to the
payment of the interest on said bonds.
and secondly rs to the remainder, il
there be any remainde.,. To be invested
rs sinking fund for the payment of
said bonds as 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. In the event that the said
water rents shall not he sufficient in
amount to pay the interest ON said
bonds or the principal thereof, as it
shall become due. the SAID Mayor and
Council shall annually 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 he
necessary. for the prompt payment Of
of the interest ON said bonds. and the
principal thereof, when the same may
become due, and any surplus on hand,
at any time, arising from such levy,
shall he by said Mayor and Council
invested in some safe securities rs Il
Sinking Fund" which shall not at
any time be diverted from the pnr-
poses Of this Act.
SnTIoN g. The money arising
from the sale Of said bonds shall he