JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 263
CHAPTER 172.
AN ACT to authorize the County Commissioners
of Cecil county to fund certain indebtedness of
the Board of County School Commissioners of
Cecil county by issuing bonds therefor and to levy
a tax for the payment of the same.
WHEREAS, the County School Commissioners of
Cecil county have been compelled to borrow large
sums of money at different times during the past five
years to maintain their schools and provide school-
houses, which said sums of money are now due and
unpaid; and
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Preamble.
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WHEREAS, it is desirable that said indebtedness
should be funded so as to be paid off gradually.
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Preamble
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SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Cecil
county be, and they are hereby authorized and em-
powered to issue bonds to an amount not exceeding
twenty thousand dollars in sums of not less than one
hundred nor more than one thousand dollars each,
to be signed by the president of the board of said
county commissioners and countersigned by the clerk
of said board, said bonds to bear interest, payable
semi-annually on the first day of April and on the
first day of October in each and every year, during
which the said bonds may run and remain unpaid,
and the coupons for interest on said bonds shall be
receivable by the collector of taxes for said county
in payment of county taxes.
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Authorized to
issue bonds.
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SEC. 2. And be it enacted, That said bonds shall be
issued to mature at such dates as shall not require
the payment in any one year of more than four thou-
sand dollars of the principal sum thereof, and that
said bonds shall be redeemable at the pleasure of
the said county commissioners at or before their
maturity, but none of said bonds shall be issued to
mature before the first day of April in the year eigh-
teen hundred and seventy-eight.
SEC. 3. And be it enacted, That to redeem said
bonds the County Commissioners of Cecil county,
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To mature.
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