The Republican. [volume] (Oakland, Md.) 1877-current, 1956-09-06

expense to the purchaser; if the
purchaser shall specify any other
place of delivery, such delivery
shall be at the expense of the
purchaser.
The legality of this issue of bonds
will be approved by Messrs. Niles,
Barton, Yost & Dankmeyer, At
torneys, of Baltimore, Maryland,
and the approving legal opinion of
said attorneys will be delivered
upon request to the purchaser of
the bonds, without charge, together
with the usual closing papers.
Financial information with re-
spect to the Town of GrantsviIle
will be supplied upon request di-
rected to the Clerk-Treasurer of
Grantsville, Grantsville, Garrett
County, Maryland.
By order of
TOWN OF EVANSVILLE
Lee Beachy, Mayor.
Section a
Immediately after the sale of the
bonds, the interest rate and /or
rates payable thereon shall be fixed
by supplemental ordinance of the
Mayor and Council of Grantsville,
within the limitations as to such
interest rate as hereinbefore set
forth, in accordance with the terms
and conditions of the sale of said
bonds, and the bonds shall there
upon be suitably printed or en-
graved and delivered to the pur-
chaser in accordance with the con-
ditions of the sale All of the pro-
ceeds of the sale of said bonds
shall be paid directly to the Clerk
Treasurer of the Town, upon the
receipt of said Clerk-Treasurer
and, with the exception of accrued
interest and/or premium, which
shall be set apart for payment on
account of the first maturing inter
est coupons on the bonds, and any
necessary expenses incurred in the
issuance, sale and delivery of the
bonds, shall be Immediately de-
posted in one or more banks or
trust companies located in the State
of Maryland, to the credit of the
Town of Grantsville, and shall be
used exclusively for the construc-
| ton of a water tower, water tank
and connecting water lines in the
Town of Grantsville, and the pay
ment of professional fees in con-
nection herewith, and said funds
shall be paid out by the Clerk
Treasurer for such purposes, from
time to time, upon the order of the
Mayor and Council of Grantsville.
Section S
That for the purpose of paying
the interest on the bonds hereby
authorized as and when the same
becomes due and payable, and also
for the purpose of paying the prin-
cipal of said bonds as the bonds
respectively mature and are pay
able. there is hereby levied, and
there shall hereafter be levied by
the Town of Grantsville in each
fiscal year that any of said bonds
are outstanding, upon all the as
sessable property within the cor
porate limits of the Town subject
| to assessment for taxation, a tax
in an amount sufficient to provide
in each fiscal year the sum neces-
sary to meet the principal and in
terest maturities of the bonds here
by authorized coming due during
such fiscal year. and the proceeds
| of such levy, when collected and
paid, shall be used for the purpose,
and for no other purpose than that
for which such levy was made. The
full faith and credit of the Town of
Grantsville is hereby irrevocably
pledged to the levy of such taxes
and to the payment of the princi-
pal and interest of said bonds as
and when they respectively mature.
Should any of the bonds hereby
authorized be issued before the
making of the next annual levy by
the Town of Grantsville, any inter
est upon said bonds falling due be-
fore the next annual levy shall be
paid out of other funds at the dis
posal of the Town of Grantsville,
and there shall be included in the
next annual levy a sum sufficient
to reimburse the funds from which
such amounts have been advanced.
Section
The within Ordinance is deemed
to be an emergency Ordinance and
shall become effective on the day
of its passage.
APPROVED: AUGUST 80, 1856.
LEE BEACHY,
Mayor,
Town of GrantSville
(SEAL)
I.y