Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1898-05-06
CHAPTER 242.

AN ACT to authorize the Mayor aud Coun-
Gil Of Rockville to issue bonds to an amount
not exceeding ten thousand FIVE hundred
dollars, to pay certain certificates of In
debtedness heretofore issued by said Mayor
and Council, and the cost OF erecting q
plant TO supply the town of Rockville with
electric light.
Section |. Be 1t enacted by the Genera
Assembly Of Maryland, That the Mayor and
Council of Rockville be, and il is hereby
auth orized to issue bonds In the name Of said
municipal corporation 10 an amount not ex-
ceeding ten thousand FIVE hundred dollars I;
the bonds issued under provisions Of this Act
shall be issued In sums OF not less than one
hundred and not more than FIVE hundred
dollars each; and each of said bends shall
be payable twenty years after date TO the
bearer; and shall bear interest 10 the mean
time at the rate Of four per centum per an
mum, payable semi-annually, according to
the tenor Of the coupons of said interest TO
be attached to sail bonds; and the bonds to
be issued under the provisions of this Act
are hereby exempted from all taxation for
any purpose; provided, however, that said
bonds shall not be sold for less than par, on
the face value thereof, in cash current money
Provided said bonds shall not be issued until
the Mayor and Council of Rockville shall
have published In the newspapers Of said town
full and detailed statement of all expendi-
lures ma de and liabilities incurred by the
Mayor and Council of Rockville, nor until
this Act shall have been approved by a ma
jority Of the legally qualified voters Of said
town who are taxpayers Whose names ap-
pear on the assessment or tax list of said
town. al the next general election of said town
or at special election to be called and held
by the Mayor aud Council of Rockville. And
said Mayor and Council OF Rock vile shall
cause 10 be printed for such election ballots
or tickets containing these words For the
issuance Of bonds for $40, 800. Against the
issuance Of bonds for $lO,5 And if q ma.
jority Of the ballots cast are for the issuance
OF said bonds il shall be considered as a n
approval of this Act, and the bonds shall
issue, but ifagainst the issuance of said bonds
then said bonds shall not be issued.
Sec. Q. And be il enacted, That the pro-
ceeds Of sale of the bonds, hereby au thorized
to be issued, shall be applied to the paym
OF certain certificates of indebtedness issued
by the Mayor and Council of Rock willie under
the provisions of its charter, aggregaling the
sum Of forty five hundred dollars and also
TO the payment of an Indebtedness incurred
0y the Mayor and Oouucil of Rockville in
constructing and acquiring plant for the
generation Of electric lights to be used for
lighting said town, amounting to the sum OF
six thousand dollars, and to no other use or
purpose whatever.
Sec. 3. And be il enacted, That said Mayor
and Council Of Rock Vile shall heve full pow
er and authority, and are hereby required,
to levy all necessary taxes upon the property
within the taxable limits of said corporation
for the pay ment of the interest on the bonds
hereby authorized to be issued, and for the
payment Of the principal thereof at the ma
turity thereof, and shall create sinking
fund for that purpose, and levy the necessary
taxes therefor to the amount of at least three
hundred dollars each year.
Sec. 4. And be II enacted, That this Act
shall take effect from the date OF Its passage.
Approved April Z, 1898.
apr 29.3t