The citizen. (Frederick City, Md.) 1895-1923, 1910-07-22
PUBLIC LOCAL LAWS.
CHAPTER No. %.

AN ACT to authorize and empower the
Mayor and Aldermen of Frederick to
issue and sell bonds for a 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 10
provide for the levy and collection of
all taxes necessary for the payment of
the interest on said bonds and to create
a sinking fund for their payment upon
majority.
Section I. Belt 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 500
10000 for the-purpose of bonding the
floating Indebtedness of said corporation.
Section And be il 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
GtNil VI odlN DOllNlS Slldii OC DdNdDlC lOilN
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 oil
this Act are hereby exempt from mum.
cipal 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 sci
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 public scale; provided
however that said bonds shall not bt
sold except for cash, and it is hereb,
further expressly provided that none o
said bonds shall be sold at less than theil
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 o
the present floating Indebtedness of sale
Corporation.
Section And be it enacted, That tn,
Mayor and Aldermen of Frederick shall
have full power and authority, and l.
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 bond
hereby authorized to be issued, and TO
the payment OF the principal thereof, a
maturity thereof, and shall create sink
ing fund for that purpose, and levy tn,
necessary taxes therefor, provided tina
not less than two cents shall be lcvieC
upon each one hundred dollars worth O
; property within the taxable limits OF sait
corporation, for said sinking fund, IN eacl
and every year from the date of saic
bonds; and the said the Mayor and Alder
. men of Frederick is further authorized
/ and empowered to pass all ordinance
. and to do all things necessary for tn
issuance of said bonds, and their offerin,
for sale in accordance with the provision
, and conditions contained in this Act
Section 5.-And be it further enacted
f That this Act shall take effect from tn
: 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 aforegoin
is true copy of an Act of the Genera
Assembly of Maryland, passed at tn
January Session, 1910.
A. J. ALMONEY,
Chief Clerk of the House.