The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1896-05-22
2 rnLlc LocAn LuW.
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P">%GT " ~ .iaD"o. = s. S>ion. as9G.@pt The
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rI' BI.ISIIED BI AUTHORITY.
CHAPTER AL.

AN ACT authorizing the Town of Laurel
ito issue refun5ling bonds in place of the
bonds authorized by Sections 24G |. and
PIG vi of Article | of the Code of Local
Laws of Maryland, entitled "Princc
Georges County" sub title Laurel"
providing for the Improvement and re
pair Of the streets of Laurel, Maryland
and authorizing the issuance of bonds
for that purpose.
SECTION /. BE if enacted by the Gen
eral Assembly of the State of Marvland
That before the maturity of any of the
bonds authorized to be issued by Sections
2lG l. and 2l6 NJ Of Article |. of the Code
of Local Laws Of Maryland, entitled
'Prncc Georges County" sub title "Lau-
rel" providing for the Improvement and
repair of the streets of Laurel, Maryland,
and authorizing the issuance of bonds for
that purpose. and Whenever the Mayor and
City Council of Laurel deem it for the best
interests of said Town they shall have the
power to issue the bonds of said Town so
as to change. hut not to increase the amount
of bonds authorized in Sections PIG J. and
2l6 NJ such bonds to he entitled "Rcfund-
ing Bonds" and to state on their face what
bonds are being refunded by them In no
event, however, shall said refuntlin bonds
be payable at Il date later than twenty
years from the date of the first bond is
sued under the authority of said sections
24G l. and 246 NJ, and in no event shall the
rate of interest on said rrfunding bonds
exceed five per centum per ahnum, pay
able at such time and at such place as shall
seem most advantageous for said Town.
In case said rcfundih@ bonds are issued,
the fund provided for NV section = III l. for
the payment of the bonds in said section
authorized to he issued shall be kept in
tact and he applied to the payment of said
refundin@ bonds, principal and interest,
pro tanto and the balance necessary to
pay all of said refnnhing bonds, principal
and interest, shall be payable in the man
ncr as provided for in Section 246 X of
said Article II, of the Code of Local Laws
| of Marvlani Whenever such rcfumding
bonds are issued, the Mayor and City
Council of Laurel Shall have the right to
| exchange said bonds for Il like amount of
bonds heretofore issued under said Sec
| tionS 2lG l. and 3ft NJ, and the bonds re-
| funded shall then hG. destroyed and can
| celleu in the presence of the City Council
| and so certified on the records of said
town Said refunding bonds shall he sign
| ed by the Mayor, countersigncd by the
Treasurer and attestcd by the Clerk of said
| Town of Laurel. with the corporate seal
of said Town attached: and provided fur
tther, that the reiundlng bonds issued here
under shall only be issued to take up said
bonds heretofore issued and the debt shall
not hereby be increased .' .-.t
| SECTION , And it shall he enacted
That this Act shall take effect from the
date of its passage.
| Approved, April 18th, 1896.
| LLOYD -LOWNDES, Governor.
| WILLIAM CABEEL BRUCE,
| President of the Senate.
| SYDNEY f. MUDD,
| Speaker of the House of Delegates
| OFFICE OF THE Chief CLERK
| OF THE HOUSE OF DELEGATES
| hereby certify that the aforc.oing is L,
true copy of an Act of the General Assem-
| bly, of Maryland, passed at the January
| Session, 1896.
| NJ NJ HIGGINS.
| Chief CLERK of the House of Delegate