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LAWS OF MARYLAND.

CHAPTER 406.

AN ACT to authorize the County Commissioners of Charles

County to issue bonds for the purpose of refunding the

bonded indebtedness of said county accruing under Section 6

of Chapter 546 of the Acts of 1894, known as "Court House

Bonds," and to levy and to collect the necessary taxes for

the payment of said bonds and interest thereon.

To issue

SECTION 1. Be it enacted by the General Assembly of Mary-

bonds.

land, That the County Commissioners of Charles County be

and they are hereby authorized to issue bonds in sums of not

less than five hundred nor more than one thousand dollars, each

to be signed by the president of the said Board of County Com-

missioners and countersigned by the clerk of said Board, not

to exceed in the aggregate twenty thousand dollars, and' bear-

ing a rate of interest not to exceed four per centum per an-

num ; the interest on said bonds, hereby authorized, to be pay-

able semi-annually on the first day of January and the first day

of July in each and every year, according to the term of the

coupons to be attached thereto ; the said bonds to be exempt

from all taxation, and the coupons thereon, when due, to be

receivable by the collector of taxes or Treasurer of said county

in payment of county taxes.

Redemption.

SEC. 2. And be it enacted, That said bonds shall be issued

payable forty years from the date thereof, to be redeemable at

any time after the expiration of ten years from date, at the

pleasure of the said County Commissioners.

To sell said
bonds.

SEC. 3. And be it enacted, That the said County Commis-

sioners are hereby authorized and required to sell said bonds to

the best advantage, at public sale, at such time and upon such

notice as they may deem expedient, provided, however, that

they shall not sell any of the bonds authorized to be issued un-

der this Act for less than par or the face value thereof for cash

in current money ; provided, however, that the said County

Commissioners may, if in their discretion they may elect to do

so, offer, for a limited time at private sale, any or all of said

bonds at a premium above their face value, or at par at a lower

rate of interest than the maximum amount provided herein.

To pay bond-

SEC. 4. And be it enacted, That the money raised by the issue

ed indebt-
ness.

and sale of said bonds under the provisions of this Act, with

the exception of any surplus that may arise from premiums

thereupon, over and above the amount required for the purpose,

shall be exclusively appropriated and applied to the payment of

the outstanding bonded indebtedness of said county, accruing

under Section 6 of Chapter 546 of the Acts of 1894, known as

"Court House Bonds," and the County Commissioners of