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Session Laws, 1878
Volume 399, Page 389   View pdf image (33K)
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JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 3S9

CHAPTER 248.

 

AN ACT to refund at a lower rate of interest part

 

of the debt of Washington county, and to em-

 

power the County Commissioners of Washington

 

county to call in the bonds of Washington county

 

issued pursuant to an act of Assembly passed at

 

the January session, eighteen hundred and sixty-

 

six, chapter nineteen, and an act passed at Janu-

 

ary session, eighteen hundred and seventy-four,

 

chapter one hundred and forty five.

 

SECTION 1. Be it enacted by the General Assembly

 

of Maryland, That the County Commissioners of

Commission-

Washington county be and they are hereby author-
ized and empowered, at such times and in such man-

ers of Wash-
ingt'n county
authorized to

ner as they may deem best, to call in and redeem

redeem bonds

the bonds of said county issued pursuant to an act

 

passed at the January session, eighteen hundred and

 

sixty-six, chapter nineteen, and an act passed at the
January session, eighteen hundred and seventy-four,

 

chapter one hundred and forty-five ; and the said

 

County Commissioners are hereby authorized and

Authoriz'd to

empowered to borrow upon the faith and credit of

borrow.

said county the suras of money sufficient to redeem

 

said bonds.

 

SEC. 2. And be it enacted, That the said County

 

Commissioners be and they are hereby, authorized

 

and empowered, at such times and in such manner

 

as they may deem best, to issue bonds equal to the

Issue bonds

amount of the bonds so called in ; the bonds so

equal to am'nt

issued to be signed by the President of the Board

called in.

of County Commissioners, and to bear interest at

 

the rate of five per centum per annum, payable semi-

 

annually, on the first days of January and July.

 

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

 

missioners shall fix the period of such bonds and the

Fix period of

denominations thereof; provided, that none of said

bonds

bonds shall mature at a period later than twenty years

 

after issue, nor earlier than five years ; and, provided,

Denomina-

that the bonds issued shall be in denominations not

tions.



 

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Session Laws, 1878
Volume 399, Page 389   View pdf image (33K)
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