The citizen. (Frederick City, Md.) 1895-1923, 1910-07-08
PUBLIC LOCAL LAWS.
CHAPTER No. ~.

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 1864, $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 I. Be it 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 1854. :
$4,000 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
years after date TO bearer, redeemable,
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 four and one-half per
centum per annum~payable semi-annu-
ally, according to the tenor of the cou-
pons for said interest. to be attached to
said bonds; and the bonds hereby author
lied to be issued under the provisions of
this Act are hereby exempt from NUM-
clpal and county taxation in Frederick
County.
Section 3.-And be it enacted. That
the Mayor and Aldermen of Frederick is
hereby authorized and empowered to sell
said bonds at public sale to the highest
bidders, after having given at least three
weeks public prior notice by advertise
ment in at least two newspapers pub
lished 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-
ick 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 it 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
hereby to be issued, as aforesaid, shall
be applied exclusively to the payment OF
the present floating Indebtedness of said
Corporation.
Section And be it enacted, That the
Mayor and Aldermen of Frederick shall
have full power and authority, and is
hereby required to levy all necessary
taxes upon the property within tine 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, at
maturity thereof, and shall create sink
ing fund for that purpose, and levy the
necessary taxes therefor, provided that
not less than two cents shall be levied
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 Mavor 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
and 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 20, 1910.
AUSTIN l.. CROTHERS,
Governor.
ADAM PEOPLES,
Speaker of the House of Delegates.
ARTHUR P. GORMAN, Jr.,
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.