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Session Laws, 1937
Volume 412, Page 72   View pdf image (33K)
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72 LAWS OF MARYLAND. [CH. 57

obligation or liability on the part of or on the credit of the
County which shall be a floating debt, nor issue any certificates
of indebtedness, nor shall said Board borrow any money what-
ever for any purpose without special legislative authority to
make the loan, and in case of any deficiency in revenue and
taxation to meet the amounts provided in the said estimates,
there shall be a pro rata abatement of all appropriations,
except for the payment of the State taxes, the principal and
interest of the County debt and salaries and obligations fixed
by law; and in case of any surplus arising in any fiscal year
by reason of excess income received from the estimated rev-
enue over the expenditures for such year or by reason of unex-
pended appropriations or unexpended emergency fund for such
year, or from increment from sale of bonds, or other reason,
the said surplus shall be passed by the Board of County Com-
missioners to a fund which shall be a part of the revenue for
the ensuing fiscal year.

Provided, however, that said County Commissioners of Fred-
erick County are authorized to borrow temporarily on promis-
sory notes during any one year a sum of money not to exceed
the sum of fifty thousand dollars ($50, 000. 00), to pay the inter-
est on the bonded indebtedness of said County, the said tempo-
rary note or notes to mature and be paid not later than Sep-
tember 30th of the same calendar year in which the said sum
or sums may be borrowed.

Provided, further, that in addition to the authority to bor-
row as aforesaid, the said County Commissioners of Frederick
County are hereby authorized to borrow on the credit of said
County, on promissory note or notes, such sums of money, not
to exceed the sum of fifty thousand dollars ($50, 000. 00) in any
one year, for the purpose of paying any expenses or obliga-
tions of said County, even though no specific legislative
authority to make the particular loan shall have been first had
and obtained.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1937.

Approved April 26, 1937.

CHAPTER 57.

AN ACT to provide a new section to Article 16 of the Code
of Public Local Laws of Maryland (1930 Edition), title
"Montgomery County", sub-title "Police", said section to be
known as 693A and to follow immediately after Section 693,

 

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Session Laws, 1937
Volume 412, Page 72   View pdf image (33K)
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