The Republican. [volume] (Oakland, Md.) 1877-current, 1931-08-06
PUBLIC LOCAL LAWS
Granting Authority to the May
or and Council of KitZmiller
to Issue Bonds.
CHAPTER 283.

by the Mayor and Council of KltZ-
millersville, Garrett County, Mary
land, for the purpose of securing
funds with which to retire the bonds
issued under the authority granted
by Chapter 378 of the Acts of As
sembly of Maryland for the year
1922 and by Chapter 208 of the Acts
of Assembly of Maryland for the
year 1927, and for the further i'm
provement of the streets of said
town of Kitzmillersville, and to sub
init to the legally qualified voters of
said town the question of whether
or not said bonds shall be issued.
Section 1. Be it enacted by the
General Assembly of Maryland, That
the Mayor and Council of Kitzmillers-
vile, in Garrett County, Maryland,
are hereby authorized and empowered,
in their discretion, to borrow upon the
faith and credit of said town a sum
not exceeding fifteen thousand dollars
($15,000) and to issue and sell cou-
pom bonds therefor in the denomina-
ton of five hundred dollars ($500)
each, to be signed by the Mayor of
said town and to be countersigned by
the clerk of the Council thereof, and
the seal of said town attached, and to
be registered by said Clerk of said
Council in book to be kept by the
Mayor and Council for the purpose of
registering "Refunding and Improve
ment Bonds" Said bonds by this
section authorized shall be known and
designated as "Refunding and I'M
provement Bonds" and shall bear in
terest at the rate of five (5) per cent
per annum, payable semi-annually on
the first day of May and November in
each and every year until the said
bonds are paid; said bonds shall be
exempt from all State, county and
municipal taxation and shall have
printed on them a distinct reference
to the Act authorizing their issue.
Sec. 2. And be it further enacted
That said bonds shall be numbered
serially and the first shall be payable
on the first day of November, 1882,
and thereafter one bond, of the value
of five hundred ($500) shall mature
and be payable each consecutive year
in the order of the consecutive num-
bers until the entire issue of said
bonds is taken up and redeemed; re-
serving the option to the Mayor and
Council aforesaid to take up and re-
deem at any interest period after ten
years any and all outstanding bonds
running more than ten years at the
face value thereof, with accrued in
terest; and said bonds shall be sold
at public or private sale in such
amount, not less, however, than five
hundred dollars ($500) at any one
time and not exceeding in the total
the said sum of fifteen thousand dol
lars ($15,000), and at such time as the
Mayor and Council of Kitzmillersville,
IN their discretion, and in the furth-
GRANGE OF the purposes for which this
bond issue is created, may deem prop
er. 1t is especially intended that the
power hereby vested in said Mayor
and Council shall be a continuing pow
er until the whole fifteen thousand
dollars ($15,000) shall have been is
sued and sold.
Sec. 3. And be it further enacted.
That the money arising from the sale
OF said bonds shall be kept as a sep
arate fund by the Mayor and Council
OF charlottesville in some safe bank,
shall be used exclusively for the pur-
poses of this Act and shall be drawn
out only on checks signed by the
Mayor and countersigned by the Clerk
OF the Council, and the said Clerk of
the Council shall keep in a book for
the purpose full registry of the
bonds sold, the number of bonds and
name of the purchaser or purchasers,
the amount realized on the sale or
sales and any transfers and assign
ments of the same.
Sec. 4. And be it further enacted,
That the funds realized from the sale
OF the bonds aforesaid shall be avail
able and shall be used exclusively for
the purpose of first retiring eleven
thousand dollars ($11,OOO) of the
bonds authorized by Chapter 378 of
the Acts of Assembly of 1922 and still
outstanding and seventeen hundred
and fifty dollars ($1,75O) of the bonds
authorized by Chapter 2O8 of
the Acts of Assembly of 1927 and
still outstanding, and the remaining
part of the fund herein provided shall
be available for the further improve
ment OF the streets of Kitzmillers-
vile.
Sec. 5. And be it further enacted.
That for the purposes of retiring the
SAID bonds authorized to be issued bv
this Act, and the payment of the in.
terest thereon, there shall be levied
against all the assessable property
within the corporate limits of the said
town of KitzmillersvilIe by the Mavor
and Council of said town annually. 80
long as any of said bonds are ont
standing and unpaid, a tax sufficient
to meet the interest, or any part of
SAID interest, on said bonds as it be-
comes due, and to pay the principal
thereof as they mature, said tax to he
determined, levied, collected and paid
over IN the same manner as provided
Tor other taxes in said municipalitv
Sec. 6. And be it further enacted.
That on the first Tuesday in Nav
1881, there shall be a special election
held IN the town of KitzmiIlersvilIe
which election shall be held in the
same manner and under the same rep
ulatlons as other municipal elections
held in said town, for the purpose Of
submitting the question as to whether
or not this Act shall take effect. to ali
lega! voters of said town who are
quallhed to vote ct regular town
election, and all ballots at said cleo
ZION shall have printed on them the
words fOlIOwinu 40 writ. TN n