The Republican. [volume] (Oakland, Md.) 1877-current, 1908-05-14

ftdce, One-half OF such flne TO go to the
infOrmer and the balance to the Mayor
and Town Council for the purposes of
this Act
SEC. i. And be it enacted, That for
the purpose of redeeming said bonds at
their maturity and for securing the
prompt payment of the interest there
on, the Mayor and Town Council shall
for the year of the issue of said bonds
and annually thereafter until the ma
turlty of said bonds, levy a tax on the
assessable property of said town not
exceeding twenty-five cents on the one
hundred dollars to pay the interest
thereon and the sum of one thousand
dollars of the principal of said debt for
the payment of the same at maturity.
The said sum of one thousand dollars
shall be held and invested by the Mayor
and Town Council as a sinking fund for
the redemption of said bonds at their
maturity; and the said Mayor and Town
Council shall from time to time deposit
the money belonging to said sinking
fund and the increment thereof in some
safe depository which pays interest on
deposits, or shall invest the same in
State or such other bonds satisfactory
to the said Mayor and Town Council as
to them may seem best. or in the Dur
chase or redemption of any of said
bonds as may be offered for sale and
redemption, and upon the purchase of
any such bonds the Mayor and Town
Council they shall Immediately be can
celled by stamping across their face
cancelled by the sinking fund, " and
no portion of said sinking fund so levied
shall ever be diverted to any other pur-
pose than to the purchase and liquida-
ton OF said bonds. The money collect
ed each year by the Treasurer or Tax
Collector on account of taxes to the ex-
tent of said sum of one thousand dollars
shall be set apart for said sinking fund,
and separate account shall be kept
thereof and be deposited to the credit
Of said fund, and no part of which shall
be chargeable to insolvencies on account
OF failure of assessment or collections.
ST. >. And be it enacted. That the
money arising from the sale of bonds.
which said bonds shall be sold either at
auction or by sealed bids, after due ad-
advertisement thereof, to the highest
responsible bidder. shall be deposited in
bank to the credit of said Mayor and
Town Council of Oakland and subject
to their check, and the Clerk of said
town of Oakland shall keep a book to be
especially provided for the purpose the
names and addresses of the purchasers
Of the bonds sold and the amount realiz-
ed on the sales, together with tho serial
numbers Of the bonds.
SEC. 8. And be it enacted. that in anv
prosecution before Instica If +bGa
Peace under Sectioy . If III oo+ ~
accused and the Navor and To,,r C,,I,,
Gil of Oakland shall have the right of
appeal to the Circuit Court for Garrett
county, within thirty DAYS. and Jury
trial Any person or persons convicted
before a Justice of the Peace under
Section of this act who shall pray an
appeal to the said Court shall be held
by recognizance or be committed to the
county Jail to appear before the next
regular jury term of the Circuit Court
for Garrett county.
SEC = And no If erac+od +bo+ tho.
MAYOR and Town CnlnciI of 0oL,Io,d 10
and thev are hereby autborizaG md am
powered to neCoti8+a sell anJ dis,(asa
of the said bonds as barair bofo,,o ,,,l,
Vided in section , of This act ar So man,
thereof as TO the Navor and Tnu,1
Council may he deen,ad nacnssarI, fo.
the nurnoses Of tbis art and ne ia Old
Mavor and Town C,nncl are fill
authorized to make all neressar, ,njas
and regulations and to mass ali nacas-
sarv ordinances with nnoaitias fo,
their violation, and to do all other
necessary acts Tor the proper managing,
maintaining ana repairing the said
water works and sewerage system and
Tor the protection thereof.
SEC g. And be it enacted, that the
funds realized from the sale of said
bonds shall be applied to the purposes
of this act, and shall be paid bv check
signed by the Mayor and the President
of the Council and the said Mayor and
Town Council of Oakland are hereby
authorized and empowered to pass such
orders for payment of money due for
the construction of said water works
and sewerage or to the contractor or
contractors for the construction of the
same, as shall, from time to time, be
due or earned by the contractor or con
tractors in the prosecution of said
works, and also from time to time to
pass orders for the payment OF property
purchased or condemned, and for ma
terial furnished in Pursuance of the
provisions of this act, and NAV in its
discretion employ a competent HYDRO
graphical engineer to superintend the