Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1921-04-07
CHAPTER SCI.

Thurmont, in Frederick County to bor-
row sum not exceeding five thousand
dollars, for improvements OF the Elec-
trio Light and Power plant of the said
town, and to issue bonds therefor, and
to levy and collect taxes on the asses
sable property in said town for the re-
demption and payment of said bonds
and the interest thereon, with pro-
viso: That said bonds shall not be is
sued unless sanctioned by majority
of the qualified voters of said town vot-
ing at regular special election for
that purpose.
SECTION |. Be 1t enacted by the Cen
eral Assembly Of Marylan1 That for the
purpose of improving the Electric Light
and Power Plant of the Town of Thur
mont, the Commissioners of Thurmont
be, and they are hereby, authorized and
empowered to issue bonds in the name of
the said municipal corporation to an
amount not exceeding the sum of five
thousand dollars, in denominations of one
hundred dollars each. and each of said
bonds shall be payable twenty years after
date to bearer; redeemable, however. at
the pleasure of said Commissioners of
Thurmont at any time after three years
from their respective dates, and shall
bear interest in the meantime at the rate
of FIVE per cent. per annum, payable
semi-annually. according to the tenor of
the coupon for said interest to be attach
ed to said bonds, which said bonds shall
be sealed with the corporate seal of the
said Municidal Corporation, and together
with the said coupons shall be signed by
the President of the Board of Commits
soners and countersigned by the Clerk of
said town.
SECTION 2 And be 1t further enacted
That the said Commissioners of Thur
mont shall have power and authority, and
are hereby required to levy all necessary
taxes upon the property within the tax
able limits of said Corporation of Thur
mont for the payment of the interest on
the bonds hereby authorized to be issued.
as we'll as for the payment of the SAID
sinking fund for that purpose and levy
the necessary taxes therefor, said tax
not to exceed ten cents on the hundred
dollars in addition to the tax already au-
thorized by law to be collected by the
said town commissioners.
SECTION 3. And be ii further enacted,
That the said bonds shall be issued from
time to time as the Commissioners of
Thurmont shall deem 1t necessary for the
purposes of this Act and shall be sold at
public or private sale at not less than
their face value, but each sale shall be
first advertised in some newspaper pub
lished in Frederick county at least two
weeks before sale is made and the pro-
ceeds thereof shall not be used for any
other than the purpose of this Act.
SECTION a. And be 1t further enacted,
That before this Act shall become opera
tive to authorize the said Commissioners
of Thurmont to issue said bonds, the
question shall be submitted to the quail
flied voters of Thurmont at regular or
special election tor approval or rejection
by such qualified voters, and in pursuance
of the provision of an ordinance to be
passed therefor, of which election and the
fact that the question is to be submitted
to the voters, notice shall be given at
least twenty-one DAYS previous to such
election. posted in five or more public
in said town, and also by at least three
insertions in the local newspaper publish
ed in Thurmont, if there be such paper
published, and if no paper is published in
said town, then in some newspaper pub |
lished in Frederick County, explaining to
the qualified voters the question to be
submitted. at which election the qualified |
voters of Thurmont shall determine by |
ballot whether the bonds hereinbefore
provided for shall be issued or not and at
which election there shall be written or
printed on the ballots of said voters the
words ''For Issue of Bonds" or against |
Issue of Bonds" andif majority of the
ballots cast shall contain the words "For
Issue of Bonds" then this Act shall be-
come operative and binding; but if ma
jority of said ballots shall contain the
words Against Issue of Bonds" then
this Act shall be void and of no effect;
and the judges of faid Municipal Election
or majority of them shall return to the
President of the Board of Commissioners
Of Thurmont the number of ballots cast
For Issue of Bonds and against Is
sue of Bonds. respectively, and the said
President of the Board of Commissioners
IF Thurmont shall announce the result
thereof.
SECTION 5. And be 1t further enacted,
That this Act is and it is hereby declared
20 be an emergency law, necessary for
the immediate preservation of the public
health and safety and shall take effect
from the date of it's passage,