The Republican., 1956-09-13
ORDINANCE

OKDlNANOE Ol lHe lOWll VI
Grantsville, Maryland, to au-
thorize the borrowing by the
Town of Forty Thousand Dol
lars CS40,00000) pursuant to the
authority of Article lie of the
Constitution of the State of
Maryland. Sections 81 to 49, in
elusive. of Article 23A of the
Annotated Code of Maryland
1856 Supplement-, and the
Charter of the Town, the pro-
ceedS of said borrowing to be
used for the erection of water
tower. water tank and connect
ing water lines in the Town of
GrantSvlle; providing that said
borrowing shall be evidenced
by the issuance and sale of
general obligation bonds in the
aggregate par amount of Forty
Thousand Dollars S40,000O0)
to be known as "GRANTS-
VILE WATER BONDS OF
1856, prescribing the denomi-
nations, maturities, the form of
said bonds, the form of adver-
tiScment, the method of deter
mining interest on the bonds,
the time, manner and place of
sale and all other details in
connection with said issuance
and sale; providing for the use
of the proceeds of the sale of
said bonds; providing for levy
of a tax upon all assessable
property within the corporate
limits of the Town of Grants
Vile subject to assessment for
taxation by said Town, for the
purpose of paying the principal
of and interest on said bonds,
and pledging the full faith and
credit of the Town of Grants
Vile to the payment thereof.
WHEREAS, the Town of
Grantsville, hereinafter referred
to as the TOWN.. is a municipal
corporation of the State of Mary
land and is governed pursuant to
the Article of the Constitution OF
the State of Maryland providing
for home rule and pursuant to the
provisions of its Charter adopted
under the provisions of said Article
lie; and
WHEREAS, Section 50 of said
Charter provides that the borrow
ing power of the Town shall be
that granted municipal corpora
tionS under the provisions of Article
23A of the Annotated Code of Mary
land, titled "CorpOratiOnS-Munici-
pal" subtitle "Creation of Munich
pal Public Debt" as said Article is
from time to time amended; and
SnnfinnC II fn 40
inclusive. of said Article 23A of the
Annotated Code of Maryland pro-
vidcs that municipalities of the
State of Maryland may borrow
money for any proper public pur-
pose and evidence such borrowing
by the issuance of bonds in accord
ancC with certain prescribed pro-
cedurcs and subject to the prOvi-
sions of the charters of the several
municipal corporations of the State;
and
WHEREAS, the authority for
the issuance of the bonds hereby
authorized is Article lie of the
Constitution of the State of Mary
of Article 23A of the Annotated
Code of Maryland 1856 Supple
ment) and the Town Charter, all of
which are collectively hereinafter
referred to as the Enabling Act;
and
WHEREAS, the Enabling Act
contains no provisions requiring
the submission of the question of
the borrowing of money and the is
suance of bonds by the Town to the
qualified voters of the Town and
contains no limitations upon the
amounts of such borrowing or upon
the rates at which taxes may be
levied by the Town for the pay
mcnt of the principal of and inter
est on its Indebtedness and the
General Assembly has passed no
local law, since the passage of the
Enabling Act, proposing a limita-
ton upon the rate at which taxes
may be levied by the Town or a
limitation upon the amount of in
debtedness which may be incurred
by the Town; and
WHEREAS, the Town has here
tofOre levied ad Valorem taxes for
the support of its municipal func-
tionS, which taxes are now in eff
feet; and
WHEREAS, the Charter of the
Town has not been repealed, re-
voked, forfeited or rescinded and
all reports required by law to be
filed to maintain said Charter i'll
full force and effect have been duly
filed in the manner and at the time
or times prescribed by law; and
WHEREAS, the Mayor and the
Council of the Town of Grantsville
have determined that it is proper
public purpose to use the proceeds
Of said issue of bonds for the pur-
rose of constructing a water tower,
" ater tank and connecting water
lines within the Town of Grants
vile, said water tower water tank
and water lines having been duly
approved by the State Department
of Health of Maryland.
NOW, THEREFORE, BE 1T
ENACTED AND ORDAINED BY
THE MAYOR AND COUNCIL OF
THE TOWN OF EVANSVILLE:
Section
That the Mayor and Council of
the Town of GrantSville deem it a
proper public purpose to construct
water tower and tank with con-
Meeting water lines within the Town
of Grantsville and to issue and sell
serial maturity coupon bonds in the
aggregate par amount of Forty
Thousand Dollars CS40,00000), the
proceeds from the sale of which
are to be used for the purpose of
defraying the cost of said construc-
ton and professional fees and other
expenses incident thereto and Incl
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