Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1896-03-12
Public Local Law.
CHAPTER II.

an act to authorize and empower the Com
missioners of Thurmont to borrow money
necessary to pay mortgage on the Town
Hall property, not exceeding the sum Of
fifteen hundred dollars, and to issue bonds
therefor.
SECTION /. Be II enacted By the General
Asssna6iy Of Maryland, that the Commissioners
Of Thurmont he and they are hereby author
lied and empowered to issue bonds in the
name OF said Commissioners of Thurmont to
an amount not exceeding fifteen hundred
dollars in the aggregate, In sums of not less
than one hundred dollars each, said Bonds
to be sealed with the seal Of said Corporation,
signed by the President Of SAID Board of
Commissioners and countersigned by the
Secretary thereof; said Bonds to bear interest,"
payable semi. annually on the first day Of
July and January of each and every year. at
q rate Of interest not exceeding Ave per
centum per annum, for which interest proper
coupons shall be attached to said Bonds,
signed and countersigned as aforesaid.
SECTION 2. And BE- II enacted, That said
Bonds shall be issued payable twenty years
from the date thereof aud redeemable at any
time after the expiration of ten years from
date, at the pleasure of said Commissioners
Of Thurmont,s and shall be exempt from Coun-
ty and municipal taxation,
SECTION 3. And be 1t enacted, That the
Commissioners of Thurmont shall apply the
proceeds from the sale of said Bonds 10 the
liquidation Of mortgage resting upon the
Town Hall and hose House of Thurmont.
SECTION 4. And Do 1t enacted, That the
Commissioners Of Thurmont shall provide
annually out of the usual tax levy, an amount
sufficient to pay the interest on said Bonds,
and they shall set apart the further sum Of
fly dollars annually to be invested in such
securities as they may select, to create q
sinking fund for the redemption of said Bonds
SECTION S. And be II enacted, That the
said Bonds shall be sold by the Commission.
ers of Thurmont at not less than their face
value for cash, after giving at least three
weeks notice by advertisement in one or
more newspapers printed inFrederick County
SECTION 8. And be 1t enacted, That, at q
municipal election to be held in Thurmont
at such time and place as may be fixed by an
Ordinance of said Commissioners of Thur
mont. the qualified voters of Thurmont shall
determine by ballot whether the Bonds here
inbefore provided for shall be issued or not,
at which said election there may be written
or printed on the ballots Of said voters the
words For issue of Bonds" or Against
Issue of Bonds" and if a majority of the
ballots cast shall contain the words For
Issue of Bonds" then this Act shall become
operative and binding, but If majority Of
said ballots shall contain the words Against
Issue of Bonds," then this Act shall be void
and of no effect, and the Judge of said NUM-
cipal election shall return to the President of
the Board OF Commissioners of Thurmont
the number of ballots cast For issue OF
Bonds" and Against issue Of Bonds re-
spectively, and the said President shall
announce the result thereof.
SECTION Z. and b. 1t enacted, That this
Act shall take effect from the date of it's
passage.
Approved February 18th, 1895.
Lloyd Lowndes,
Governor.
William Cabell Bruce,
President of the Senate.
Sydney E Mudd,
Speaker of the House of Delegates.
Office of the Chief Clerk of the House of
Delegates.
I hereby certify that the aforegoing Is q
true copy of an Act Of the General Assembly
Of Maryland passed at the January Session
1895.
M. NJ. Higgins.
Chief Clerk of the House Of Delegates.
mch124t
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