The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1902-02-08
WASHINGTON, WESTMINSTER & GETTYS-
BURG R. r.
The Bill to Empower Westminster to Issue
Bonds to Aid II.


The following bill is before the General
Assembly of Maryland and has been favorably
reported in the Senate 1t provides for the
issuance of Westminster City bonds to the
amount of $25. 600, the proceeds to be ap-
piled to the purchase of like amount of the
first mortgage bonds of the Washington,
Westminster and Gettysburg Railroad. The
Westminster bonds are TO run for thirty years,
payable after fifteen years, to bear interest
at rate not exceeding 5 per cent, and to be
exempt from county and city taxation. The
railroad bonds are 10 be purchased at q
price not exceeding par, and not to be pur-
chased until the railroad is completed and
in operation and the company has located its
railroad shops within the corporate limits OF
Westminster. The matter of bond issue will
have to be submitted to vote of the people
of Westminster within thirty days after the
passage of the act
Following is the bill in full:
A BILL
Entitled an act to authorize the Mayor
and Common Council of Westminster to issue
its bonds or certificates of Indebtedness to the
amount of Twenty Five Thousand Dollars, for
the purpose of providing that amount OF
money to enable the said Mayor and Common
Council of Westminster to subscribe for and
purchase the First Mortgage Bonds of the
Washington, Westminster and Gettysburg
Railroad Company of Maryland to the amount
of Twenty Five Thousand Dollars.
Sect. l. Be it enacted by the General As
sembly of Maryland, That the Mayor and
Common Council of Westminster, be and
they are hereby authorized and empowered to
issue bonds in the name of the Mayor and
Common Council of Westminster in sums OF
not less than Five Hundred Dollars nor
more than One Thousand Dollars each, to
be signed by the Mayor, and countersigned by
the Clerk of the Mayor and Common Council
of Westminster, and said bonds shall be sealed
with the corporate seal of the Common Coun-
ell of Westminster, to the amount of Twenty
Five Thousand Dollars, bearing interest at the
rate not exceeding five per centum per an
mum; the interest thereon to be paid semi
annually on the first day of January and July,
in each and every year, and each of said bonds
shall be payable thirty years after date, to
bearer; redeemable, however, at the pleasure
of the said Mayor and Common Council al
any time, after the expiration of fifteen years
from their respective dates and issuance.
Sect. g. And be it enacted, That said
bonds shall not be disposed of at price less
than the par value thereof, and said bonds
shall be exemept from County and Municipal
taxation.
Sect g. And be it enacted, That the sum
of Twenty Five Thousand Dollars arising from
the sale of said bonds, shall be used and APP
piled by the Mayor and Common Council OF
Westminster exclusively in payment for the
first mortgage bonds of the Washington,
| Westminster and Gettysburg Railroad Com
pany of Maryland, at not more than par value
| thereof, which bonds said Mayor and Com
mon Council of Westminster are hereby au-
| thorized and empowered TO subscribe and pa,
| for.
Sect. 4. And be it enacted. That the Mayor
and Common Council of Westminster shall
| not subscribe for nor pay for said first mort
| gage bonds of the Washington, Westminster
| and Gettysburg Railroad Company of Mary
land or any part thereof until the said The
| Washington, Westminster and Gettysburg
| Railroad Company shall have constructed ano
completed its railroad and have the same IN
| operation through the City of Westminster
| Carroll County, Maryland, from Washington
| CITY. in the District of Columbia, to Gettys
| burg, Adams County, State of Pennsylvania
| and shall also have constructed and located
its Railroad Shops at some point within the
| corporate limits of said City of Westminster
Sect. 5. And be it enacted, That the said
Mayor and Common Council of Westminster
be and they are required in each and every
year to levy and collect special tax, not ex
| ceeding ten cents on every hundred dollars Of
the assessed value of the taxable property LA
BILE to assessment and taxation within the
limits of the Corporation of the City of West
minister for the purpose of paying the interest
on the bonds issued under the provisions OF
this Act, as the same shall be payable, ano
from time to time reduce and retire said bonds
after the date provided by this Act, until al
| of them shall be redeemed and retired.
Sect g. And be it enacted, That the Mayor
and Common Council of Westminster be ano
they are hereby authorized and empowered to
take the sense of the people of the City o.
Westminster in relation to the issuing of the
bonds provided for in this Act, by submitting
the question to the qualified voters at an cleo
ton to be held in the City Of Westminster On
such day at such place and between such hours
of the day as said Mayor and Common Coun
Gil may order and direct, at any time not ex.
ceeding thirty days after the passage and APP
proval of this Act, and at said election the
qualified voters of said City are authorized to
cast ballot "For Issuing Bonds or "Agains
Issuing Bonds" and the result of such election
shall be certified to the said Mayor and Com
mon Council of Westminster, and if the ma
iority of the votes cast be for the issuing Of
the bonds provided for by this Act, then the
said Mayor and Common Council be and they
are hereby authorized and required to exercise
| the power and authority vested in them by the
provisions of this Act.
Sect. 7. And be il enacted, That this Ac
shall take effect from the date of its passage