The citizen. (Frederick City, Md.) 1895-1923, 1912-06-21
(CHAPTFR 62o.)
ie75t

AN ACT to authorize the Commits
sioners of Thurmont, in Frederick
County. to borrow three thousand
dollars by issue of bonds or other obi
cations of said Commissioners Of
Thurmont, to repay amount heretofore
borrowed to complete the purchase Of
the Electric Light and Power Plant of
the Citizens Electric Light and Power
Company of Thurmont, as authorized
by the Act of 1910. Chapter 9.
Whereas. BY the Act Of the General
Assembly of MARYLAND of 1910, Chapter
g, the Commissioners of Thurmont,
municipal corporation OF Frederick
County, were authorized to own and
operate the Electric Light and Power
Plant erected BY the Citizens Electric
Light and Power Company of Thurmont.
and to issue bonds in the name of said
municipal corporation to an amount not
exceeding eighteen thousand dollars to
and Power Plant, with its properties and
rights, as will fully appear by said Act
OF 1910, Chapter 9, it being then esti-
dollars would be sufficient to pay the
cos of said plant and properties. and
Whereas, Said bonds were issued and
the money obtained thereby was applied
as in said Act directed. but it was found
that said plant, when completed, cost
twenty-one thousand dollars, and SAID
Commissioners, IN order to obtain a
good title 10 said plant with its rights
and properties, were compelled to Dor
row an additional sum:of three thousand
dollars, which it is desired to repay; now,
therefore,
Section I. Be it enacted by the Gen
eral Assembly of Maryland, That the
action of said Commissioners of Thur
mont in borrowing the sum of three
thousand dollars to complete the pur-
chase of the Electric Light and Power
Plant, with the properties and rights con-
nected herewith. from the Citizens
Electric Light and Power Company as
authorized by the Act of 1910, Chapter
9, is hereby approved, and the said Com
missionerS of Thurmont are hereby au-
thorized and empowered to issue addi-
tional bonds to an amount not exceeding
three thousand dollars. IN the denomna-
ton of one hundred dollars each. pay
able twenty years after date to bearer.
redeemable, however. at the pleasure of
said Commissioners of Thurmont at any
time after the expiration OF three years
from their respective dates, to bear inter
est in the mean time at the rate of five
per cent. per annum, PAYABLE semi-annu-
ally, according TO the tenor of the cou-
ponS for said interest to be attached to
said bonds, which said bonds shall be
sealed with the corporate seal of the
said corporation, and, together with said
coupons, shall be signed by the President
of the Board of Commissioners and coun-
tersigned by the Clerk of the said Board;
provided, however, that said bonds shall
not be sold for less than par or the face
value thereof.
Section 2. And be it enacted, That
the proceeds of the sale of the bonds
hereby authorized to be issued shall be
applied TO the repayment Of the money
heretofore borrowed to complete the pay
ment of the purchase money for said
Electric Light and Power Plant.
Section g. And be it enacted, That
If the said Commissioners of Thurmont
should believe it to be to the interest and
advantage of SAID municipal corporation
to obtain SAID sum OF three thousand dol
lars by issuing the notes of said corpora
ton signed by the President of the Board
of Commissioners, with the seal thereof
attached, attested by the Clerk of said
Board, in amounts of one hundred dol I,
lars, or multiplies thereof, each bearing
interest at the rate of five per cent. per |
annum, PAYABLE semi-annually, for an
aggregate amount not exceeding the |
sum Of three thousand dollars, instead !
of issuing said bonds, they are hereby
to issue such corporate notes.
Section 4. And be it enacted. That
the said Commissioners OF Thurmont are
hereby required to levy all necessary
taxes upon the property within the tax
able limits of Thurmont for the payment
Dt the interest upon the bonds or notes
hereby authorized to be issued as well
IS for the payment of the said bonds or
totes at maturity, and shall create sink