The Republican., 1956-09-13
dent to the sale of said bonds.
Section z

mat the mayor ana COuncll OF
the Town of Grantsville, acting for
the Town of Grantsville, issue and
sell serial maturity coupon bonds
in the aggregate par amount of
Forty Thousand Dollars (S40,00000)
under the provisions of Section SO
of the Charter of the Town, Sec
tions 81 to 80, inclusive, of Article
23A of the Annotated Code of Mary
land 1856 Cumulative SUPPLEMENT-
and Article lie of the Constitution
of the State of Maryland, the pro-
ceeds from the sale of said bonds
to be used as indicated in Section
l of this Ordinance: that said bonds
shall be designated as "GRANTS-
VILE WATER BONDS OF 1856
and shall be issued upon the full
faith and credit of the Town of
Grantsville; they shall be dated
October l, 1856, and shall be num-
bered consecutively from No One
% to No. Forty C4O), both num-
bers inclusive; they shall be issued
in serial maturity coupon form, in
the denomination of One Thousand
Dollars S1000.00) par value each,
and shall mature and be payable
over a period of twenty (20) years,
1857 to and including 1876, in the
order of their consecutive numbers,
in annual serial installments of Two
Thousand Dollars CS200000) in each
year. Said bonds shall bear interest
at the rate or rates to be fixed by
the successful bidder or bidders of
rniI hnnAr NHrhipl1 patnc nf
interest shall be in multiples of one
eighth II 8th) or one-tenth Ql10th)
of one per centum 1f6) and shall
not exceed four per centum $50
per annum: the alternate para
graph in the Form of Bond, here
matter set forth, shall be used in
accordance with the terms of the
accepted bid in the event the bonds
are issued to bear two or more
rates of interest. The bonds, when
issued, shall be signed by the Mayor
shall be counter-signed by the
Clerk-TreaSurer of said Town, and
the seal of the Town of Grantsville
shall be impressed on each of the
bonds of the issue; the interest
coupons attached to the bonds shall
be authenticated by the facsimile
signature of the Clerk-TreaSurer
stamped, printed or engraved there
on. Said bonds shall be issued sub
ject to the registration as to prin-
cipal only in the name of the owner
or owners thereof at The First State
Bank of Grantsville, GrantSville,
Maryland, and the principal of and
interest on said bonds shall be pay
able at said bank. The bonds shall
be III substantially. the following
form, which form, together with ali
the recitalS, covenants and cOndi~
hq5I5q ST 'u!7I0ql pou!eluo) suon
adopted by the Mayor and Council
of Grantsville as and for the form
of obligation to be incurred by the
Town of Grantsville, and said re-
citals, covenants and conditions are
hereby declared to be irrevocable
contract obligations of the Town of
Grantsvlle and are hereby made
binding upon the Town of Grants
Vile, including the promise to pay
therein contained:
Section 3
The bonds hereby authorized to
be issued shall be sold by bids on
sealed proposals to the highest re-
sponsible bidder or bidders there
for, for cash, after having given at
least ten C10) days public notice
by advertisement inserted once in
each of two t2l consecutive weeks
next preceding the date of sale Of
said bonds, in The Republican, ."
a newspaper printed and published
in Oakland, Maryland, and having
a general circulation in Garrett
County, Maryland. in the issues of
said paper appearing Friday, Sep
tember 7 and Friday, September IA,
1856. The sale of said bonds shall
be held on Thursday. September
20 1856. The Clerk-Treasurer is
hereby authorized and empowered
to obtain and distribute circular
copies of said advertisement, and
to distribute such other data con-
cerning the bonds, to any invest
ment bankers, brokers or other per-
sons who may in his judgment be
interested in the purchase of said
bonds, or who may request such
circulars or information. Public
notice by advertisement may also
be given by insertion in any other
newspaper or financial journal
which in the judgment of the Mayor
and the Council will promote the
sale of the bonds. Said advertise
ment in The Republican" shall set
forth the time, place, manner and
terms of the sale of the bonds, and
shall be in substantially the follow
ing form, which said form is hereby
adopted as and for the terms and
conditions under which the said
bonds will be offered and sold at
public sale