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Session Laws, 1947
Volume 411, Page 731   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 731

sufficient to pay the interest on the bonds outstanding and
the principal of bonds maturing during the succeeding year.

SEC. 6. 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 16, 1947.

CHAPTER 420.
(House Bill 635)

AN ACT to repeal and re-enact, with amendments, Sections
239 and 240 of Article 11 of the Code of Public Local Laws
of Maryland (1930 Edition), title "Frederick County", sub-
title "Frederick City", increasing the amount which Fred-
erick City may borrow.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Sections 239 and 240 of Article 11 of the Code of
Public Local Laws of Maryland (1930 Edition), title "Fred-
erick County", sub-title "Frederick City", be and they are
hereby repealed and re-enacted, with amendments, to read
as follows:

239. The Mayor and Aldermen of Frederick are hereby
authorized and empowered to borrow upon the faith and
credit of the Corporation of Frederick, such sum or sums of
money, at a rate of interest not exceeding six per cent,
per annum, as it shall think proper, for municipal purposes,
with full power to issue the promissory note or notes, obli-
gation or obligations, of the Corporation of Frederick for
the amount authorized to be borrowed by this section or
any part thereof; provided, that not more than fifty thousand
($50,000) dollars shall be borrowed in any one year, which
year, for the purpose of this section, shall begin on the first
day of October and continue until the thirtieth day of Sep-
tember following, in each and every year; and provided
further, that the Mayor and Aldermen of Frederick shall
levy, in each and every year, a sufficient tax to pay off
all money borrowed, together with the accumulated in-

 

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Session Laws, 1947
Volume 411, Page 731   View pdf image (33K)
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