The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1910-05-13

a
poration affixed, and bear interest at
a rate to be fixed by the Mayor and
Common Council Of Westminster, not
exceeding four and one-haIf per cent.
| a. per cent per annum. payable
lsemi-annualIy on the first day of jan
sunry 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
able July 1. 1916; the bonds numbered
II 70 so, inclusive. shall be due and
payable two year N the consecutive
order of their numbers after the year
1924. bond numbered "11n being due
and payable January 1. 1926, bond
numbered IL" July 1, 1926, 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
Ii retired and redeemed as herein pro-
vided. A portion or the whole of said
bonds may be registered. Or may have
Understanding coupons as may be
determined by 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 II sold at private
sale It shall not be for less than pnr,
and accrued interest.
Sec. B. And be i further enacted,
That so much of said sum of twenty
five thousand dollars derived from the
sale of said bonds. as may be necea-
sary for the purpose. shall be by the
Mayor and Common Council used and
applied exclusively 70 the payment Of
the bonds. bills. notes and obligations
nov outstanding and owing or payable
By the Mayor and Common Council of
Westminster. including the money due
10 any account OF the town heretofore
employed since the frat OF November,
1909. in paying notes of the town then |
outstanding Or owing. which may have
since been paid, and the cost or a.
penae of the preparation. issuing and
sale Of said bonds: the balance OF this |
Bum Of money r. to be then applied to |
the repayIng OF repairing Of such |
streets In said city of Westminster |
rs the said Mayor and Common |
Council nay order and direct. and |
for no other purpose: and any |
sums OF money heretofore levied and |
unsolicited. 70 provide a sinking fund |
for the redemption of the bonds nov |
outstanding. may b used after TIE
payments Of said bonds a. herein pro-
vided. when collected for any munl-
clpaI purpose.
Sec. I. And be i further enacted.
That the aid Mayor and Common
Council are authorized and required |
in each and every year hereafter /
while the bonds hereby authorized Or /
any of them are outstanding and IN
paId. 10 lev and collect \ special tx /
on the property Of I'll kinds and de-
aefInIion. liable 10 assessment and /
assessment and taxation within the /.
corporate limits Of The citY Of West
minister. sufficient 70 pay the interest /
on tie outstanding bonds, b them i
sued under ne provisions d this At. +
and the principal thereof - tho same /
shall fall due. until hey shall have I'll /
been redeemed and retired: md the pro
ceedanf such tax a. collected shall be /
by he Mayor and Common Council /
placed 10 their order In some safe de-
poalInry n separate and distinct /
fund. and b them only applied 20 the !
payment 81 tiie interest and redemn- /
ton Of said bonds. Ehen and "a auon /
~ they ahaIi become due and redeem
able. and Nnsn redeemed I'D bonds ]
and any coupons hall b. cancelled. I
And he aaIa taxes HTs pledged 10 tie !
payment Of he interest and principal /
Of sd bonds. and ean be used for no
other pnERozs
Sec. 5, md be i further enacted.
Thai this Aet shhn taks effect from The /
data Of IL passage.
Approved april i. 1910.
AUSTIN L CR0THERs. /
Governor.
ARTHUR 7. G0nsiAN. r..
President Of tn Senate.
ADAM PEBBLES.
Speaker of he House Of Delegates.
Once OF the Secretary OF the Senate +
Hereby Certify. That ths aforeeo=
linz i > true copy Of n Act = the Gen
era Assembly of Maryland. passed =
the January Session. 1910.
MAX WAYS.
Secretary Of ths Senate.