Catoctin clarion., 1896-04-02
Public Local Law.
CHAPTER IL.

An Act to authorize and empower the Conn.,
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 l. Be 1t enacted By tho General
assembly Of Maryland that the Commissioners
of Thurmont I've and they are hereby author
lied and empowered to issue bonds in the
name of aid Comm ssioners 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
a rate of interest not exceeding five per
centum per annum, for which interest proper
coupons shall be attached to said Bonds
signed and countersigned as aforesaid.
SECTION 3. and be 1t enacted That said
Bonds shall be issued payable twenty years
from the date thereof and redeemable at any
time after the expiration of ten years from
date, at the pleasure Of said Commissioners
of Thurmont, and shall be exempt from Coun.
ty and municipal taxation
SECTION 3. And be it enacted, That the
Commissioners of Thurmont shall apply the
proceeds from the sale of said Bonds TO the
liquidation of a mortgage resting upon the
Town Hall and Hose House of Thurmont.
SECTION 4. And be ii enacted, That the
Commissioners Of Thurmont shall provide
annually out fthe usual tax levy, an amount
sufficient to pay the interest on said Bonds,
and they shall set apart the further sum of
! fifty dollars annually to be INVESTED in such
securities as they may select, to create a
sinking fund for the redemption of said Bonds
SECTION 5. And be 1t 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 a
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
iubefore provided for shall be issued or not,
at which said election there may Le written
or printed on the ballots Of said voters the
words "For issue of Bonds" or Against
Issue of Bonds" and if majority of the
ballots cast shall contain the words For
Issue of Bonds" then this Act shall become
operative and binding, but if a 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 muni-
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 be it enacted, That this
Act shall take effect from the date of its
passage.
Approved February 18th, 1896.
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.
hereby certify that the aforegoing is a
true copy of an Act Of the General Assembly
of Maryland passed at the January Session
1895.
M, M. Higgins.
Chief Clerk of the House of Delegates.
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