The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1904-05-14
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 6.

ENTITLED, An Act to authorize the Presi-
dent and Commissioners of Chesapeake
city to issue bonds of said town to pay
OFF the Indebtedness of said town growing
out of a suit of Mrs. Agnes T. Emmons
and otherwise.
SECTION |. BE II 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 $1,000, and to issue coupon bonds there
for, in sums not less than $500 and not more
than 81 goo, each to he signed by the Presl
dent and countcrSigned by the Clerk of saiG
President and Commissioners of said CheSa-
peake city, with the seal of said President
and Com missionerS of said town attached,
and to be registered by said clerk In book
provided and kept for that purpose, and
that said bonds shall bear interest at 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 .I"m distinct
and the money arising from the sale thereof
shall be applied to the payment OF the judg-
ment of said Mrs. Agnes T. Emmons and
other Indebtedness OF said town.
SEC. 3 And be 1t enacted, that the said
bonds shall be issued in serial numbers,
from one 10 the NOnclutlnG 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 nj 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 in consecutive
order until the whole are paid; and in max
ing sale of said bonds, should they all be
printed with the fun number of coupons for
the semi annual interest required to be paid
on those last maturing, the President and
m Gpi # Hl,.k.a plyf
City, snail cut from said bonds and destroy
all coupons that mature later than the dat e
limited for 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 Com miSSiOnerS OF
said town OF Chesapeake City; but none OF
said bonds shall be sold for less than their
face value.
SEC 3. And he II 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 aSSeSSable property OF said town
OF chesapeake city, the sum necessary to
pay said interest as separate item aside
rom 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 sha II
annually become due, and the interest on
said bonds Shall be payable on the preSenta-
ton the said coupons as they may fall
due the coupon or coupons so presented and
paid shall be Immediately burned and de.
Stroyed by the said President and Commits
Sioners of said town, and as the said bonds
mature and are redeemed they shall sinh
larry he delivered and destroyed.
SEC 4 And he II enact cd that tbe ,unnev