The Prince George's enquirer and southern Maryland advertiser. (Upper Marlborough, Md.) 1882-1925, 1896-05-29
p up1rc LOCAL Laws.
Passed at III. .J"n'ta,y Sos ion, 1896, of lie
GENE r,H A.son,b yf Ndryland
PUBLISHED BY AUTHORITY
CHAPTER AL.

AN ACT authorizing the Town of Laurel
to issue rcfunding bonds in place of the
bonds authorized by Sections 246 L and
246 NJ of Article II of the Code of Local
Laws of Maryland, entitled prince
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 l. Be it enacted by the Gen
eral Assembly of the State of Maryland,
That before the maturity of any of the
bonds authorized to be issued by Sections
246 l. and 246 NJ of Article II of the Code
of Local Laws of Maryland, entitled
Prince 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
rs to change. but not to increase the amount
of bonds authorized in Sections 246 L and
246 NJ, such bonds to he entitled Refund
ing Bonds and to state on their face what
bonds are being refunded by them. In no
event. however, shall said refunding bonds
be payable at date later than twenty
years from the date of the first bond is
sued under the authority of said sections
246 l. and 246 NJ, and in no event shall the
rate of interest on said refunding bonds
exceed five per centum per annum, pay
able at such time and at such place as shall
seem most advantageous for said Town.
In case said refundihg bonds are issued,
the fund provided for by section 246 L for
the payment of the bonds i'm said section
authorized to he issued, shall be kept in
tact and be applied to the payment of said
refunding bonds. principal and interest,
pro tanto, and the balance necessary to
pay all of said refunding bonds principal
and interest. shall be payable in the man
ner as provided for in Section 246 K of
said Article II, of the Code of Local Laws
of MARYLAND. Whenever such refunding
bonds are issued, the Mayor and City
Conncil of Laurel shall have the right to
exchange said bonds for like amount of
bonds heretofore issued under said Sec
tons 246 l. and GAG NJ, and the bonds re-
funded shall then he destroyed and can
celled in the presence of the City Council
and so certified ON the records of said
town. Said refundng bonds shall be sign
ed by the Mayor. countersigned by the
Treasurer and attested by the Clerk of said
Town of Laurel. with the corporate seal
of said Town attached; and provided fur
ther, that the refunding bonds issued here
under shall only be issued to take up said
bonds heretofore issued and the debt shall
not hereby be increased.
SECTION ,. And it shall be enacted,
That this Act shall take effect from the
date of its passage
Approved, April 4th. 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
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 Delegates.