The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1904-05-07
Public Local Laws
Operative in Cecil county pass
ed at the recent session of
the Legislature, and publish,
ed by authority.
To Bond Chesapeake City
CHAPTER &.

ENTITLED, An Act to authorize the Presi-
City to issue bonds of said town to pay
of the Indebtedness of said town growing
out of suit of Mrs. Agnes 4. Emmons
and otherwise.
SECTION |. BE it enacted by the General
Assembly of Maryland that the President
and Commissioners of Chesapeake City be,
and they are hereby authorized and empow-
cred, in their discretion, to borrow on the
credit of said town an amount, not exceed
ing $780, and to issue coupon bonds there
for, in sums not less than $500 and not more
than $1,000, each to be signed by the Presi
dent and countersigned by the Clerk of said
President and Commissioners of said Chesa-
peake City, with the seal of said President
and Commissioners of said town attached,
and to be registered by said clerk in IA book
provided and kept for that purpose, and
that said bonds shall bear interest at a rate
not exceeding D per cent, payable semi
annually, from the date of the issue of said
bonds, until said bonds are paid. And said
bonds shall forever be exempt from all tax
alton for county and municipal purposes,
and shall have printed on them distinct
reference to the act authorizing their issue,
and the money arising rom the sale thereof
shall be applied to the payment of the iudg.
ment of said Mrs. Agnes T. EmmonS and
other Indebtedness OF said town.
SEC. 2. And be it enacted, that the said
bonds shall be issued in serial numbers,
from one to the concluding serial number.
and shall be redeemable and payable as to
the first $500 In two years from the date of
their issue, and so on at the rate of $500 yearly
until the whole are paid, and the payment
thereof Shall be in the order of their serial
numbers, beginning with the first serial
number, and thus continuing i'm consecutive
order until the whole are paid and in maxi
ing sale of said bonds, should they all he
printed with the full number of coupons for
the semi annual interest required to he paid
on those last maturing, the President and
commissioners of said town of CheSa peal Ike
city. snail cut from said bonds and destroy
all coupons that mature later than II " date
limited Tor the redemption of any of such
bonds, and the said bonds shall be sold by
sealed bids, for which the said President and
Commissioners of said town shall advertise
IN some newspaper published in the City of
Baltimore, and also in one or more local
newspapers published in Cecil county and
said advertisements shall state where the
said bids shall be publicly opened in the
Office OF the President and Commissioners of
said town of Chesapeake CITY, but none of
said bonds shall be sold for less than their
face value.
SEC B. And be 1t enacted that for the pur-
pose of paving the int, rest on said bonds
the said President and Commissioners of
said Chesapeake City annually shall levy
upon the aSSeSSabe property of said town
OF chesapeake City, the sum necessary to
pay SAID interest as separate item aside
from the levy of the current expenses of
said town of Chesapeake city, and they
Shall also in the respective years in which
such bonds shall become due, as hereinafter
provided, levy annually. the sum of $500 for
the redemption of said bonds aS they shall
annually become due. and the interest on
said bonds shall be payable on the presenta-
non of the said coupons as they may fall
due, the coupon or coupons so presented and
paid shall be Immediately burned and de
Stroycd by the said President and Commits
Sloners OF said town, and as the said bonds
mature and are redeemed they shall SINH
larry be delivered and destroyed.
SEC. 4. And be it enacted that the money
arising from the sale of said bonds shall be
kept as a separate fund for the purposes OF
this act. and the clerk aforesaid shall keep
full register of said bonds, with the names of
the purchasers. the amount realized On sales
and the dates OF the maturity of the several
bonds by their serial number.
SEC. 5. And be it enacted that the fund
arising from the sale of said bonds shall be
applied to the payment of the judgment and
costs against said Chesa peake City obtained
at the suit of the said Mrs. Agnes r. EN-
mons, ana also to the payment of the in
debtedueSs of said town at the direction of
the said President and Commissioners of
said Chesapeake City.
SEC g. And be 1t enacted that this act
snail take effect from the date of its passage.
Approved February Is, 1901.
EDWIN WAKEFIELD.
Governor.
SPENCER c. JONES,
President of the Senate.
GEORGE Y. ENERHART
Speaker of the House of Delegates
Office of the Chief Clerk House of Delegates:
| hereby certify. that the aforegoing is n
true copy of an Act of the General Assembly
of Maryland, passed at the January session,
1904.
b. l.. SMITH,
Chief Clerk of the House of Delegates