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	Preamble.
WHEREAS, it is desirable that said indebtedness should be funded so as to be paid off gradually.	Preamble
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 empowered 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.	Authorized to issue bonds.
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 thousand 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 eighteen hundred and seventy-eight. SEC. 3. And be it enacted, That to redeem said bonds the County Commissioners of Cecil county,	To mature.