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Session Laws, 1947
Volume 411, Page 493   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 493

and credit of the county a sum of money not to exceed Sixty
Thousand Dollars ($60,000.00) from such banks, trust com-
panies or other source as they may elect, and to issue nego-
tiable promissory notes to secure the same. Said notes
shall bear interest not to exceed three per cent. (3%) and
may be renewed from time to time, but shall be retired
within ten (10) years from the date of the original loan.
The money so borrowed shall be used for the purpose of
paying off outstanding certificates of indebtedness issued for
the general expenses of the county. The County Commissioners
shall include in the budget and levy from year to year a
sum sufficient to pay the interest and principal of such loan.

SEC. 2. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and having
been passed by a yea and nay vote, supported by three-fifths
of all the members elected to each of the two Houses of the
General Assembly of Maryland, the same shall take effect
from the date of its passage.

Approved April 2, 1947.

CHAPTER 309.
(House Bill 621)

AN ACT to authorize and empower The Commissioners of
Cambridge, to borrow a sum of money not exceeding
Twenty Thousand Dollars ($20,000.00) and to evidence
said borrowing by the issuance to the lender of its general
obligation coupon bonds or its promissory note, payable
as to principal and interest from the proceeds of ad
valorem taxes, levied without limitation as to rate or
amount on all property in said municipality, and to use
the money so borrowed in clearing Cambridge Harbor as
required by the War Department in the pending deepening
project; and for its share in a proposed municipal airport
as described in an Act of Congress of the United States,
entitled "Federal Airport Act", which was approved May
13, 1946; further empowering the said The Commissioners
of Cambridge to operate and maintain an airport either
within or without the city limits or partly in and partly
out of the city limits, in cooperation with The Commis-
sioners for Dorchester County, or without their coopera-
tion.

 

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Session Laws, 1947
Volume 411, Page 493   View pdf image (33K)
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