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Session Laws, 1943
Volume 584, Page 3   View pdf image (33K)
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LAWS OF MARYLAND OF 1943

MARYLAND, Sct.:

At a Session of the General Assembly of Maryland, begun and
held in the City of Annapolis, on the Sixth day of
January, 1943, and ending on the Third day of April,
1943, the Honorable Herbert R. O'Conor, being Gov-
ernor of the State, the following Laws were enacted,
to wit:

CHAPTER 1.
(House Bill 102)

AN ACT to authorize and empower the Mayor and Councilmen
of the City of Frostburg, Allegany County, Maryland, to
issue and sell Funding Bonds of said City to an amount not
exceeding Fifty-two thousand dollars ($52, 000. 00) for the
purpose of funding and retiring outstanding floating in-
debtedness of said City incurred for water works purposes,
and to pledge and apply available annual revenues from the
water works of said City to the payment of such Funding
Bonds and interest thereon, and to levy and collect taxes
upon all the assessable property in said City to pay the
annual principal and interest requirements of such Funding
Bonds in the event of insufficient available water revenues
for that purpose.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That, for the purpose of funding and retiring its out-
standing floating indebtedness incurred for water works pur-
poses, the Mayor and Councilmen of the City of Frostburg,
Allegany County, Maryland, be, and they are hereby authorized
and empowered to issue and sell negotiable Funding Bonds
of said City in the sum of not to exceed $52, 000; said Fund-
ing Bonds shall be issued in such form and denominations,
shall become due and payable in such manner and time, not
exceeding twenty years from date of issue, and shall bear such
rate of interest, not exceeding three per cent (3%) per annum,
as the Mayor and Councilmen shall determine by ordinance;
said bonds shall be forever exempt from all State, County and
municipal taxes and shall be signed by the Mayor of said

 

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Session Laws, 1943
Volume 584, Page 3   View pdf image (33K)
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