JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 583
CHAPTER 377.
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AN ACT to amend section three of the Acts of the
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General Assembly of this State, passed at the ses-
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sion of eighteen hundred and seventy-four, chapter
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three hundred and sixty-seven, entitled " An act
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to enable the Commissioners of Somerset county
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to provide a fund for the redemption of outstand-
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ing county bonds," by repealing said section three
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and re-enacting the same with amendments.
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SECTION 1. Be it enacted by the General Assembly
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of Maryland, That section three of chapter three
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hundred and sixty-seven of the Acts of the General
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Assembly of this State, passed at the session of
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Repealed and
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eighteen hundred and seventy-four, entitled "An
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re-enacted.
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act to enable the Commissioners of Somerset county
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to provide a fund for the redemption of outstanding
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county bonds, be and the same is hereby repealed
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and re-enacted so as read as follows :
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3. If the bids for redemption are not such as in
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the judgment of such County Commissioners ought
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to be accepted, then said commissioners shall imme-
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diately cause all the funds they may have in hand
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Invest funds
on hand.
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on that account to be invested in State bonds, or in
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Baltimore city bonds, paying six per cent, interest,
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or in mortgages or judgments on unincumbered real
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estate in said county, which said real estate shall be
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assessed to at least twice the amount of the sum so
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invested on mortgage or judgments, and the said
commissioners shall collect the interest semi-annually
and reinvest the same for the purpose of providing a
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fund for the payment of said Bonds.
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SEC. 2. And be it enacted, That this act shall take
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In force.
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effect from the date of its passage.
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Approved April 1, 1878.
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