Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1904-03-10


amount not exceeding twelve thousand dol
lara $12 O0O) and to issue coupon bonds Of
said town In payment of said sum and inter.
eat thereon T., accrue. That said bonds shall
be issued 10 sums not less than 500 nor
more than $500, and shall have coupons at
tached for the interest thereon, payable semi
annually on the Let day of April and Octo.
Der In each and every year, at rate not ex'
ceeding five per centum. per annum, they
shall each be signed by the President Of said
Board of Commissioners and countersigned
by the Clerk or secretary OF said Commits
sioners, with the corporate seal Of said town
affixed And said bonds shall be exempt
from all taxes except for State purposes.
SECTION g. And be 1t Enacted, That the
said Commissioners are hereby authorized
and empowered to fix and determine the
length Of time any and all said bonds shall
run, their series and the time at which any
and all bonds shall Re redeemable; provided
that none of said bonds shall run for great.
er period than twenty-five years from the date
OF their issue.
SECTION 4. And be |, Enacted, That The
proceeds Of sale of said Bonds shall be mp
piled. first to the payment Of the necessary
expenses incurred in the preparation and
sale thereof; second, to the payment of the
purchase money for the mains, rights, privi-
leges and franchises of the Water Company
now operating in said town in case the com.
missloners should purchase the same; If the
rights, privileges, franchises and mains Of
said Water Company are not purchased, as
herein provided, then TO the payments Of the
amounts to become due and payable under
contracts which are hereby authorized for
constructing and building water works for
said town and for furnishing, laying and
completing distributing mains. gates, n.y.
drants and connections and other apparatus
and appliances necessary for the purposes of
this Act
SECTION 8. And he It Enacted, That be-
fore entering into any contract for the con.
s,ruction or building Of water works as here
10 provided for, the commissioners shall sc.
cure the services Of an experienced and com
petect engineer under whose direction and
superintendent all machinery and supplies
shall be furnished and work done, who shall
be required to give bond to said commission.
ers in sum not less than So 600, conditioned
for the proper and efficient opt ration OF the
entire plant when completed and delivered
to said town and for one year thereafter, and
the expense of preparing plans and specih,
cations and of superintendent of construc-
ton shall be paid from the proceeds of sale
of the bonds hereby authorized.
SECTION G. And be 1t Enacted, That wa.
ter shall be furnished In said town to Its res.
dents and others tor domestic and other
uses, at rates to be agreed upon, that the net
proceeds from the water service herein pro.
vlded for shall be applied, first to the pay.
ment of the interest on the bonds hereby
authorized to be issued and sold; second to
the payment into the sinking fund Of such
sum annually rs shall be sufficient to redeem
said bonds at their maturity, and the balance
if any, shall be paid into the general treas
ury Of said town the same as taxes, und to
be used in the discretion of said commission.
ers for the benefit of said town. that in case
the proceeds from said water service shall at
any time be estimated TO be insufficient for
the payment of the interest on the bonds as
aforesaid, rs well rs the amount to be placed
in the sinking fund for the redemption Of
said bonds at their maturity, the estimated
deficiency in said interest and sinking fund
shall be assessed pro rata against all the tax.
able property within the taxable limits OF
said town, according to its assessed valua-
ton, including all improvements; said tax
to be In addition to The tax already authori-
zed by law to be collected by said commits
sloners, and shall by known as water bond
tax" and shall be levied and collected as
other taxes against such property
SECTION 7. And be it Enacted, That the
commissioners shall keep the monies and
revenues received from the water rents, in
separate and distinct account from the other
revenues Of said town. which said receipts,
as well 40 the disbursements on account Of
said water works shall be separately detailed
and set forth In the annual statement pub
lished by said commissioners.
SECTION 8. And be It Enacted, That up.
on the purchase or construction of water
works as provided for in this Act, the com.
missloners shall appoint from the resident
tax payers of Thurmont, such officers as may
be necessary to manage and protect said
water works, after their construction or pur'
chase, and TO pass such tow, ordinances as
may be necessary for the purposes Of this
Act.
SECTION o. And be It Enacted, That all
Acts and parts OF Acts inconsistent with this
Act. be and the same are hereby repealed.
SECTION 10. And be II Enacted, That
this Act shall not 60 into force unless within
sixty lays after the passage Of this Act, at a
special election to be held in said town, or at
the next Corporation election to be held In
said town on the second Monday In April,
q majority OF the qualified voters of Thur
mont, casting their votes upon the question
shall vote in favor of the provisions of this
Act, at said election all ballots cast In favor
of the provisions of this act shall read For
Municipal ownership Of Water Works" and
all ballots cast against the provisions Of this
act shall read Against Municipal Owner.
ship of Water Works" and il at said election
| the number of ballots cast upon said cues.