The citizen. (Frederick City, Md.) 1895-1923, 1910-07-15
PUBLIC LOCAL LAWS.
CHAPTER No. 20.

AN ACT to authorize and empower the
Mayor and Aldermen of Frederick to
issue and sell bonds for sum of money
not exceeding sixty-four thousand two
hundred and fifty dollars 1854, $50, ooo)
for the purpose Of bonding the floating
Indebtedness Of said corporation and to
provide for the levy and collection of
all taxes necessary for the payment of
the interest on said bonds and to create
sinking fund for their payment upon
majority.
Section J. Beu enacted by the General
Assembly Of Maryland That the Mayor
and Aldermen of Frederick is hereby au
thorized and empowered TO issue and sell
bonds OF the said corporation for a sum of
money not exceeding SiXty-Four Thou
sand two hundred and fifty dollars S64,
25o,oo1 for the purpose of bonding the
floating Indebtedness OF said corporation.
Section And be it enacted, That the
bonds authorized to be issued under the
provisions of this Act shall be issued in
sums not less than Fifty Dollars nor more
than Five Thousand Dollars each. and
each OF said bonds shall be payable forty
wears after date TO bearer redeomable
however. at the pleasure of The Mayor
and Aldermen Of Frederick at any time
after the expiration Of twenty years from
their respective dates. and said bonds
shall bear interest, in the meantime. at a
rate not exceeding tour and one-half per
Cen,Um per annum, payable semi-anuu-
ally. according to the tenor Of the COu-
ponS for said interest. to he attached to
said bonds. and the bonds hereby author
lied 10 be issued under the provisions Of
this Act are hereby exempt from muni-
cjp8l and county taxation in Frederick
County
Section 3.-And be it enacted. That
the Mayor and Aldermen of Frederick is
hereby authorized and empowered 10 sell
said bonds at public sale to the highest
bidders, after having given at least three
weeks public prior notice by advertise
mcnt in at least two newspapers pub
ished in Frederick County and such
other notice as the Mayor and Aldermen
Of Frederick may think proper; or if the
said the Mayor and Aldermen of Freder-
lex believes the interests of said corpora
ton will be the best subServed thereby.
said bonds may be sold by bid upon sealed
{ proposals, after having given notice pre-
( scribed above for a public scale; provided,
| however, that said bonds shall not be
sold except for cash, and il is hereby
( further expressly provided that none Of
said bonds shall be sold at less than their
par value, and that the money arising
from the sale of the bonds authorized
1 hereby to be issued. as aforesaid. shall
b. applied exclusively to the payment of
the present floating Indebtedness of said
| Corporation.
Section 4 And be il enacted. That the
/ Mayor and Aldermen of Frederick shall
/ have full power and authority, and is
4 hereby required to levy all necessary
| taxes upon the property within the tax
/ able limits of said Corporation for the
! payment of the interest on said bonds
! hereby authorized to be issued, and for
the payment OF the principal thereof 1t
maturity thereof and shall create a sink
ing fund for that purpose, and levy the
/ necessary taxes therefor, provided that
/ not less than two cents shall be levied
4 upon each one hundred dollars worth of
! property within the taxable limits OF said
/ corporation, for said sinking fund IN each
and every year from the date of said
/ bonds; and the said the Mayor and Alder
men Of Frederick is further authorized
and empowered TO pass all ordinances
and to do all things necessary for the
issuance of said bonds, and their offering
for sale in accordance with the provisions
aud conditions contained in this Act.
Section 5.-And be it further enacted.
/ That this Act shall take effect from the
date OF Its passage
Approved March %, 1910.
AUSTIN l.. CROTHERS,
Governor.
ADAM PEOPLES.
Speaker Of the House Of Delegates.
ARTHUR P. GORMAN, IT,.
President of the Senate.
Office of the Chief Clerk of the House:
Hereby Certify, That the aforegoing
is true copy Of an Act of the General
Assembly of Maryland, passed at the
January Session, 1910.
A. ]. ALMONEY,
Chief Clerk OF the House.