The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1910-05-20

the Treasurer Nth the seal Of the cor
Doration affixed. and bear interest at
rate to be IIxed by the Mayor and
Common Council of Westminster, not
exceeding four and one-haIf per cent.
IL per cent per annnm. payable
semi-annually On the first day of jan
nary and July in each year. The
bonds OF this issue numbered one to
ten, inclusive. shall be payable one a
year in the consecutive order of their
numbers after the year 1914, bond
number one falling due and being pay
aba July 1, 1916; the bonds numbered
Il to 80, inclusive, shall be due and
payable two : year In the consecutive
order of their numbers after the year
1924, bond numbered I'll" being due
and payable January 1. 1925, bond
numbered .I2. July 1, 1925. the rest
continuing to fall due and being pay
able on the first day of January and
July OF each year thereafter in their
numerical order until the whole issue
Is retired and redeemed as herein pro-
eided. A portion or the whole Of said
bonds may be registered. or may have
Interest-bearing coupons - may be
determined b the Mayor and Com
mon Council. They may Be sold at
public or private sale for such price
and on such terms and conditions as
the Mayor and Common Council may
deem advisable. but If sold At private
sale Il shall not be for less than par.
and accrued interest.
Sec. g. And be 1t further enacted,
That so much Of said sum Of twenty
FIVE thousand dollars derived from the
sale of said bonds, as MAJ be neces-
aary for the purpose, shall be by the
Mayor and Common Council used and
applied exclusively TO the payment OF
the bonds. bills. notes and obligations
now outstanding and owing OF payable
b the Mayor md Common Council Of
Westminster, including the money due
70 any account Of the town heretofore
employed since the flrst of November,
1909, In paying notes Of the town then
outstanding or owing, which may have
since been paid, and the cost or ex-
nense OF the preparation. issuing and
sale OF said bonds: the balance of this
sum OF money i TO be then applied to
the Tepavins Or repairing Of such
streets in said city of Westminster
as the said Mayor and Common
Council may order and direct. and
Tor no other purpose: and any
sums OF money heretofore levied and
nneollected. 70 provide a sinking fund
for the redemption OF the bonds now
outstanding. my be used after the
payments Of aid bonds n herein pro-
nded. when collected for any muni-
elpai purpose.
Sec. 4. And be Il further enacted.
That the aald Mayor aud Common
Council are authorized and required
n each and every year hereafter
while the bonds hereby authorized or
anY OF them aTn outstanding and un-
paid. to lev md collect = special tax
- the property of all kinds and de-
HeriutIon. liable 10 assessment and
assessment and taxation within the
corporate lImIIa Of the eiIs Of West
minister, sufficient to pay I1s interest
- tho outstanding bonds. b them Is
aued under ths provisions af this Act.
nd the principal thereof = tie same
Hhn1l fall due. until they HhaII have all
Haeu redeemed nd retired. md the pro-
asndaO such - as collected shall be
= the Mayor and Common Council
placed 10 Tier order ia sama safe de-
naHltdFy n + separate md distinct
IND. and y IHsm only applied to the
payment 81 IIH interest ~ nedemp=
On Of said bonds. when and n soon
d they ahaIi become duo nj redeem
able. and shsn redeemed I'D bonds
nd any coupons shall = cancelled.
nd the said IaxeH are pledged TO the
payment o. - interest aud principal
. said bonds. and can BE I'D for no
other purpose.
Sec o. ~ b Il further enacted.
Int this a. zhali take effect from the
dc Of its nHHaage.
Approved APRIL II. 1910
AUSTIN / GROTHEns.
Governor.
ARTHUR =. GORAiAx. II.
President of t. Senate.
ADAM PEOPLES,
Speaker of - House o. Delegates.
Once OF the Secretary Of Re Senate
Hereby Certify. That tHa aforego-
~ IL a true saHy Of an AeI 81 the Cen
HFai Assembly # Maryland. passed At
IL January Session. 1910.
MAX WAYS.
Secretary Of fhs Senate.