Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1910-05-21
ACT PROVIDING
FOR BOND ISSUE
BY FROsTBURG
CHAPTER "a.

An Act to authorize the Mayor and
COuncilmen of Frostburg to issue
bonds for the purpose of paving,
grading and otherwise improving
the streets, alleys and lanes of the
town of Frostburg.
Section l. Be it enacted by the
General Assembly of Maryland. That
the Mayor and Councilmen of Frost
burg be and they are hereby author
lied to issue coupon bonds in the name
of the said corporation to an amount
not to exceed fifty thousand dollars
$3.50, OO0) which said bonds shall be
signed by the Mayor and Clerk of the
town OF t'rOStburg and attested by the
corporation seal of the said town, and
shall be denOminated "Frostburg
Street Improvement Bonds of 1910.
and shall bear interest at a rate not
TO exceed four per Centum per annum,
payable semi-annually, to be issued in
denominations not exceeding five
hundred dollars ($500), to be payable
at time not exceeding thirty years
from date, and redeemable at the
pleasure of the said corporation at
any time after five years from thei.
date, and the said town shall haVl
the power from year to year to levy
ana collect special tax to pay sail
interest and to provide a sinking fund
for the redemption of said bonds; and
the said Mayor and COuncilmen shall
nave power to issue the same in such
lhStallmentS or amounts as they may
deem proper from time to time, the
aggregate of the bonds to be issued
not to exceed the said sum of fifty
thousand dollars ($50,OOO).
Sec. 2. The said Mayor and Coun-
cllmen, out of the proceeds of said
bonds, shall pay One-third of the cost
or paving. grading and otherwise i'm
proving any street or portion thereof
which they shall from time to time
determine to pave, grade and other
wise improve; the remaining two
thirds of the cost of such Improvement
10 be assessed against the property
aDuttlng on such streets or portions
thereof so paved, graded or improved,
according to the number of front feet
or the respective properties abutting
thereon; such paving, grading or 9TH
erWlSe improving any of the streets
hereunder, and the assessments made
therefor to be done as provided in
Section 1873 of Article I of the Code
of Public Local Laws as enacted by
the Act of 1902 Chapter SO, and any
amendments thereof
Sec. 3. And be it further enacted,
That this Act shall not become effec-
tive unless at the town election to
be held in the town of Frostburg III
the month of April, 1910, there shall
be cast a majority of votes in favor
of the issue of such bonds, and on the
ballots provided BY the Mayor and
Councilmen at said election there
shall be printed the words, For the
Street Improvement Bonds" and
Against Street improvements Bonds; "
and the voter may vote thereon either
by a cross-mark (X) after his choice,
or by running pencil or pen
Through the one to which he is oppos-
ed; and if there shall be a majority
of votes in favor Of said bonds. then
the said Mayor and Councilmen shall
be authorized to issue said bonds. as
hereinbefore provided; and If there be
majority Of votes against the is
suance of such bonds, then this Act
Shall be null and void; and II the
said Act, in the event Of its passage,
should not be approved within five
ldays before said election, then the