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CHAPTER 570.
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AN ACT to authorize the county commissioners of Charles county
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to issue bonds, bearing a rate of interest not exceeding five per
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cent, per annum, to raise money to pay off the portion of the
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bonded indebtedness of said county accruing under the act of
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assembly of eighteen hundred and eighty-six, chapter three
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hundred and ninety-one, and to levy and collect the necessary
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taxes for the payment of said bonds and the interest thereon.
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SECTION 1. Be it enacted by the General Assembly of Maryland,
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That the county commissioners of Charles county are hereby
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authorized to issue bonds in sums not less than one hundred nor
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more than one thousand dollars, each to be signed by the presi-
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Fo Issue
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dent of the said board of county commissioners and countersigned
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bonds.
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by the clerk of said board, not to exceed in the aggregate four
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thousand dollars, and bearing a rate of interest not exceeding five
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per cent, per annum; said bonds hereby authorized to be issued
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to bear interest payable semi-annually on the first day of July and
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the first day of January in each and every year, at a rate of in-
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terest not exceeding five per cent, per annum, according to the
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tenor of the coupons for said interest to be thereto attached, and
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the said coupons on said bonds shall, as they become payable, be
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receivable by the collectors of taxes for said county in payment
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of county taxes.
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SEC. 2. And be it enacted, That said bonds shall be issued
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payable ten years from the date thereof, and be redeemable at any
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Redeem-
able.
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time after the expiration of one- year from date, at the pleasure of
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said county commissioners.
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SEC. 3. And be it further enacted, That said county commis-
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sioners are hereby authorized and required to sell said bonds to
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the best advantage at public sale, at such time and upon such
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To sell at
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notice as they may deem expedient; provided, however, that they
shall not sell any of the bonds authorized to be issued under this
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public sale
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act for less than par or the face value thereof for cash in current
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money.
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SEC. 4. And be it further enacted, That the money raised by
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45
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