Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1896-04-25
J. EDWARD WHITE, Agent,
SNOW HILL. MD.
DUBLIC LOCAL LAW.
CHAPTER l22.

AN AL To allow the legal and quail
fled voters OF Snow Hill, in Worces-
ter County, 10 decide by ballot
whether or not town coupon bonds
not exceeding the amount OF eighteen
thousand dollars, shall he issued bv
the Mayor and Council of Snow
Hill, for the purpose Of providing Il
water supply for said town.
SECTION /. BE il 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 he, and is hereby di-
rected to l,e. 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 crcula-
tion 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 10 the provisions
of mn 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 uf Water
! Bonds. The returns of said election shall
be made in the same manner rs is provided
for in the said municipal election. and if "a
ma lorty of the votes east shall be against
the issuing of water bonds. then. and in that
case, no bonds shall he issued. but If "A
ma iority of the votes east shall be for the
issuin. of water bonds then the said Mavor
and Council of Snow Hill shall issue said
bonds to the amount of eighteen thousand
dollars or less. n hereinafter provided
SECTION ,. And bc it enacted. That if
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 aMomnt not exccedin. the
sum of eighteen thousand dollars, AMI to
issue coupon bonds therefor in SUMS OF not
! less than one hundred dollars and not more
than one thousand dollars each. to he signed
by the Mayor of said town and Ia hc counter.
signed by the Secretary aud Treasurer OF the
corporation, with the seal OF the said town
attached. and To he registered by said Secrc-
tary and Treasurer in a separate book kept
for that purpose. Said bonds shall bear
interest at the rate of six per ccntum per
annum. payable semi-annuaIlv, on the first
day OF January and July in each and every
year. until the said bonds are paid. Said
bonds shall lie forever exempt from all taxa
tion whatsoever, except for State purposes
and shall have printed ON them n distinct
reference To the Act and the election direct
ing their Issue, and any subsequent transfer
of said bonds may be registered or not at the
option OF any purchaser or purchasers.
SECTION !. And he il enacted, That
said bonds shall be issued in eighteen series,
each consisting of one Thousand dollars of
the said amount aud shall be redeemable aS
follows: Onc thousand dollars thereof in
ten wears from the date of their issue. aud
Icaiter annually one thousand dollars in
each and every year until the whole amount
81 issued shall have been paid, and said
bonds shall lie sold at public or private
sale, in the discretion of said MAYOR and
Council, provided that nonc of said bonds
shall lee sold at less than par.
SECTION 5. And be it enacted, That for
the purpose OF redeeming said bonds at their
maturity and for securing the prompt pay
mept of the interest thereon the said Mnvor
and Council are hereby empowered and di-
rectcd to apply all net income arising from
water rents, after paying all necessary cN-
pen-es for maintaining proper and suf-
hcient supply of wafer and for bettermentS
and repairs, First to the payment of the
interest ON said bonds, and Secondly as a.
the remainder. if there be any the same Ia
be invested ia sinking fund for the paw
ment Of said bonds as they respectively
mature. The coupons on said bonds shall
be receivable by said Mayor and Council in
payment of taxes due to said town. In the
event that the net amount received from
said water rents. after dcdGcting the afore-
sal expenses referred to in this Section,
shall not be sufficient in amount to pay the
interest on said bonds and the principal
Mayor and Council shall annually levy On