The citizen. (Frederick City, Md.) 1895-1923, 1912-06-14
iCHAPTER $40. !


AN ACT to authorize the Commits
sioners of Thumont 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
Q the Commissioners Of Thurmont. a
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 III 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 properties and
rights, as will fully appear by SAID Act
of 1910, Chapter 9, il being then esti-
mated SAID sum of eighteen thousand
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
twentv-one thousand dollars. and SAID
Commissioners, IN order to obtain a
good title TO said plant with its rights
and properties, were compelled to Dor
row all additional sumsof three thousand
dollars, which it is desired to repay; now,
therefore,
Section I. 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 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
by The Act of 1910. Chapter
9. is hereby approved, and the said Com
missioners Of Thurmont are hereby au-
,horizcd and empowered to issue addi-
.ional bonds to an amount not exceeding
three thousand dollars, IN the denomina-
.Ion of one hundred dollars each, pay
able twenty wears after date to bearer.
however, at the pleasure of
said Commissioners of Thurmont at aRv
lime after the expiration OF three years
rom their respective dates, to bear inter
-st in the mean time at the rate of five
per cent per annum, PAYABLE seuli-annu-
Illv. according 10 the tenor of the cou-
Tor 1 mt he.
said bonds. which said bonds shall be
sealed with the corporate seal of the
.aid corporation. and, together with said
-nupons shall be signed by the President
IF the Board Of Commissioners and coun-
ersIgued by the Clerk of the said Board;
provided, however, that SAID bonds shall
lot be sold for less than par or the face
lalue thereof
Section p And be it enacted, That
he proceeds of the sale of the bonds
hereby authorized to be issued shall be
lpplied to the repayment of the money
heretofore borrowed to complete the pay
nent OF the purchase money for said
Electric Light and Power Plant.
Section :. And be it enacted, That
+ the said Commissioners of Thurmont
should believe il TO be TO the interest and ,
advantage of SAID municipal corporation
o obtain SAID sum OF three thousand dol
ars by issuing the notes of said corpora
ion signed by the President of the Board
II Commissioners. with the seal thereof |
attached attested by the Clerk of said !
}oard, in amounts of one hundred dol /,
ars, or multiples thereof, each bearing
interest at the rate of five per cent. per |
nnum, PAYABLE semi-annually, for an |
aggregate amount, not exceeding the |
um of three thousand dollars, instead |
# issuing said bonds. they are hereby
authorized to issue such corporate notes.
Section 4. And be it enacted. That |
he said Commissioners of Thurmont are
ereby required TO levy all necessary
axes upon the property within the tax
bic limits of Thurmont for the payment
i the interest upon the bonds or notes
ereby authorized to be issued as well
5 for the payment Of the said bonds or
otes at maturity, and shall create a sink