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Session Laws, 1947
Volume 411, Page 729   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 729

chase suitable judicial robes for the members of the Circuit
Court.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1947.

Approved April 16, 1947.

CHAPTER 419.
(House Bill 629)

AN ACT to authorize and empower the County Commis-
sioners of Allegany County to borrow $2,000,000 upon the
faith and credit of the County for the construction and
equipping of an elementary and junior-senior high school
at Mount Savage, a junior-senior high school at Lonacon-
ing, and an elementary school at Ellerslie, and to issue
bonds therefor and to levy taxes to pay the principal and
interest of such bonds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That (a) the County Commissioners of Allegany County
are hereby authorized and empowered, in their discretion,
to borrow upon the faith and credit of the County, the
amount of Two Million Dollars ($2,000,00.00) for the purposes
specified in this Act and to issue and sell coupon bonds in
that amount.

(b) The County Commissioners of Allegany County shall,
by resolution, prescribe the form and tenor of such bonds;
the rate of interest not exceeding five per cent (5%) per
annum to be paid thereon; the date of issue; and the time
and place at which interest is to be paid. Such bonds shall
be in coupon form, shall be in denominations of One Hundred
Dollars ($ 100.00) or any multiple thereof and may be made
registerable as to principal. Such bonds shall be issued
upon the serial maturity plan in such manner that bonds in
the amount of at least Eighty Thousand Dollars ($80,000)
shall mature and become payable at the end of each year
thereafter until all the bonds have been paid and retired.

(c) Such bonds when issued shall be signed by the Presi-
dent of the County Commissioners of Allegany County and
the corporate seal of the County Commissioners shall be
attached thereto by the Clerk of the County Commissioners,
and the interest coupons attached to each of said bonds

 

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Session Laws, 1947
Volume 411, Page 729   View pdf image (33K)
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