Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-05-02
J. EDWARD WHITE, Agent,
SNOW HILL. MID.
DUBLIC LOCAL LAW.
CHAPTER 122.

AN All To allow the legal ana 1uall-
fed voters OF Snow Hill, in Worces-
ter County, to decide by ballot
whether or not town coupon bonds
not exceeding the amount OF eighteen
thousand dollars. shall be issued hy
the Mayor and Council of Snow
Hill, for the purpose OF providing a
water supply for said town.
SECTION /. BE it enacted by the
General Assembly of Maryland, That
at the election to be held in the town
of Snow Hill. in Worcester County,
Maryland, on the first Monday of
Nay, in the year eighteen hundred
and ninety-six. for Mayor and Council
men OF said town. that the question
whether or not said Mayor and Council
Of Snow Hill shall issue coupon bonds
to the amount of eighteen thousand
dollars or less, for the purpose of pro-
viding water supply for the protection
OF said town against fire, and for other
purposes, shall be, and is hereby di-
rected To he, submitted TO the legal
and qualified voters of said town, and
in order TO advise the citizens of said
town of the intent of this act it shall
be the duty Of the Mayor and Council
of Snow Hill to publish in some news
paper or newspapers of general circula-
ton in said town the substance of this
act. for at least one week previous To
said election, and BY such other notice
as they may deem necessary and
proper.
SECTION 2. And be it enacted, That the
election provided for in section one hereof
shall be held in conformity to the provisions
of an act of Assembly of 1894 authorizing
an election for Mayor and Councilmen for
said town. and the ballots shall have printed
on them the words "For the Issue of Water
Bonds" and Against the Issue Of Water
Bonds. The returns of said election shall
bc made in the same manner as is provided
for in the said municipal election, and il a
majority of the votes east shall be against
the issuing of water bonds, then, and in tina,
case, no bonds shall he issued. hut if .
majority of the votes cast shall be for the
issuing of water bonds then the said Mayor
and Council of Snow Hill shall issue said
bonds to the amount of eighteen thousand
dollars or less, as hereinafter provided.
SECTION 3. And he it enacted That il
the decision by said election shall be for the
issuing OF water bonds the Mayor and Coun-
ell of Snow Hill are hereby authorized and
directed to borrow ON the credit of the town
of Snow Hill. an aMouni not exccedin. the
sum cf eighteen Thousand dollars, aud Ia
issue coupon bonds therefor in sums of not
less than one hundred dollars and not NOR,
than one thousand dollars each, TO he signed
hy the Mayor of said town and to be counter
signed by the Secretary and Treasurer of the
corporation, with the seal of the said town
attached, and to be registered by said Secre.
tary and Treasurer in n separate book kept
Tor that purpose. SAID bonds shall heal
interest Mt the rate of six per ccntum pei
annum, payable semi-annuallv, on the tirs
day of January and July in each and ever,
year, until the said bonds are paid. Sal,
bonds shall bc forever exempt from all taxa
tion whatsoever, except for State purposes
and shall have printed on them a distinc
reference To the Act and the election direct
Ing their issue, and any subsequent transfer
of said bonds may he registered or not NJ tn,
option of any purchaser ar purchasers.
SECTION I. And be il enacted, Tha
said bonds shall he issued in eighteen series
each consisting of one thousand dollars %
the said amount, aud shall bc rcdeemabe n
follows: One thousand dollars thereof il
ten wears from the date of their issue AN,
thereafter annually one thousand dollars il
each and every year until the whole amour
50 issued shall have been paid, and sal,
bonds shall lie sold at public or priyat
Il. Al. az
Council. provided that none of said bond
shall be sold at less than par.
SECTION ;. And be il enacted. That fo
the purpose of redeeming said bonds ut thci
maturity and for securing the prompt pay
mept Of the interest thereon the said Mayn
and Council are hereby empowered and iii
rccted 10 apply all net income arising frou
water rents, after paying all necessary cN
penses Tor maintaining proper and sui
iicicnt supply oi water and for bettcrnent
and repairs. First to the payment of III
interest on said bonds and Secondly ~ {
the remainder, il there he any , the same I
be invested ia sinking fund for the pay
mcnt of said bonds as they respcctivcl
mature The coupons on said bonds shal
lee receivable by said Mayor and Council i
payment Of taxes due tu said town. In tn
event that the net amount received froI
said water rents, after deducting the afor,
sail expenses referred to in this Section
shall not be sufficient in amount to pay IA
interest ON said bonds and the prncips
thereof ns il shall become due, the sal
Mayor and Council shall annually levy o