Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1912-06-13
ICHAPTER 629l


to borrow three thousand dollars by
issue of bonds or other obligations 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, az authorized by the Act OF
1910, Chapter 9.
Whereas, By the Act of the General
Assembly of Maryland of 1910, Chapter
8, the Commissioners of Thurmont, u
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
raise money to pay for said Electric
Light and Power Plant, with its proper
ties and rights. rs willfully appear by
said Act of 1910, Chapter 8, it being then
estimated said sum of eighteen thousand
dollars would be sufficient to pay the
cost of said plant and properties, and
Whereas, Said bonds were issued and
the money obtained thereby was applied
as in said Act directed, but 1t was found
that said plant, when completed, cost
twenty-one thousand dollars, and said
Commissioners, in order to obtain good
title to said plant with its rights and
properties, were compelled to borrow an
additional sum of three thousand dollars,
which it is desired to repay; now, there
fore,
Section !. Be it enacted by the Cen
eral Assembly of Maryland, That the
action of said Commissioners of Thur
mont in borrowing the sum of three
thousand dollars to complete the purchase
of the Electric Light and Power Plant,
with the properties and rights connected
Herewith, from the Citizens Electric
Light and Power Company as authorized
by the Act of 1910, Chapter 9, is hereby
approved, and the said Commissioners of
Thurmont are hereby authorized and en-
powered to issue additional bonds to an
amount not exceeding three thousand
dollars, in the denomination of one hun
dred dollars each, payable twenty years
after date to bearer, redeemable, how
ever, at the pleasure of said Commission
- OF fi,nn uffar tho
expiration of three years from their re.
spective dates, to bear interest in the
mean time at the rate of five per cent.
per annum, payable semi-annually, ac-
cording to the tenor of the coupons for
said interest to be attached to said bonds,
which said bonds shall be sealed with the
corporate seal of the laid corporation,
and together with said coupons. shall be
signed by the President of The Board OF
Commissioners and countersigned by the
Clerk of the said Board provided, how
ever, 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 bonds hereby
authorized to be issued shall be applied
to the repayment of the money hereto
fore borrowed to complete the payment
of the purchase money for said Electric
Light and Power Plant.
Section 3. And be it enacted, That if
the said Commissioners of Thurmont
should believe it to be to the interest
and advantage of said municipal corpor-
alton to obtain said sum of three thous-
and dollars by issuing the notes of said
corporation 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 dollars. or multiplies thereof,
each bearing interest at the rate of five
per cent. per annum, payable seminar
nually, for an aggregate amount, not
exceeding the sum of three thousand
dollars, instead of issuing said bonds,
they are hereby authorized to issue such
corporate notes.
Section a. 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
of the interest upon the bonds or notes
hereby authorized to be issued as we'll as
for the payment of the said bonds or
notes at maturity, and shall create sink
ing fund for that purpose and levy the
necessary taxes therefor.
! Section 5. And be it enacted, That
this Act shall take effct from the date of
its passage.
Approved April 18th, 1912.
PHILLIPS LEE GOLDSBOROUGH,
Governor.
/ JAMES McC. Triple,
Speaker of the House of Deleg ates.
JESSE d. PRICE,
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, 1912.
ALBERT ]. ALMONEY,
Chief Clerk of the House.