|
Companies, or of the State
tax, now levied, or which
may hereafter be levied, to
pay off the public debt (or)
to any other purpose until
the interest and debt are
fully paid, or the sinking
fund shall be equal to the
amount of the outstanding
debt; but the General As-
sembly may authorize the
Board of Public Works to
direct the State Treasurer to
borrow in the name of the
State, in anticipation of the
collection of taxes, such
sum or sums as may be
necessary to meet temporary
deficiencies in the Treasury,
to preserve the best interest
of the State in the conduct
of the various State institu-
tions, departments, bureaus,
and agencies during each
fiscal year. Subject to the
approval of the Board of
Public Works and as pro-
vided by Law, the State
Treasurer is authorized to
make and sell short-term
notes for temporary emer-
gencies, but such notes must
only be made to provide for
appropriations already made
by the General Assembly.
The General Assembly may
contract debts to any amount
that may be necessary for
the defense of the State.
And provided further that
nothing in this section shall
be construed to prohibit the
raising of funds for the pur-
pose of aiding or compensat-
ing in such manner or way
as the General Assembly of
the State shall deem proper,
those citizens of the State
who have served, with honor,
their Country and State in
time of War; provided, how-
ever, that such action of the
General Assembly shall be
effective only when sub-
|
Improvement Companies, or
of the State tax, now levied,
or which may hereafter be
levied, to pay off the public
debt, to any other purpose
until the interest and debt
are fully paid, or the sink-
ing fund shall be equal to
the amount of the outstand-
ing debt; but the General
Assembly may, without lay-
ing a tax, borrow an amount
never to exceed fifty thou-
sand dollars, to meet tem-
porary deficiences in the
Treasury, and may contract
debts to any amount that
may be necessary for the de-
fence of the State.
|
ciencies in the treasury, and
may contract debts to any
amount that may be neces-
sary for the defence of the
State.
|
may, without laying a tax
borrow an amount never to
exceed fifty thousand dol-
lars, to meet temporary defi-
ciencies in the Treasury, and
may contract debts to any
amount that may be neces-
sary for the defence of the
State.
Sec. 42. That it shall be
the duty of the Legislature
so soon as the public debt
shall have been fully paid
off, to cause to be transferred
to the several counties and
the city of Baltimore, stock
in the internal improvement
ompanies, equal to the
amount respectively paid by
each towards the erection
and completion of said
works, at the then market
value of said stock.
|
|
|
