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Session Laws, 1933 Session
Volume 421, Page 1026   View pdf image (33K)
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1026 LAWS OF MARYLAND. [CH. 538

Commissioners of Prince George's County, a body corpo-
rate, to borrow money on the faith and credit of Prince
George's County to meet its budgetary expenses for the
years 1932, 1933 and 1934; and

WHEREAS, The amount of the revenue to be received by
the County Commissioners is undeterminable and uncertain
and to meet such emergency, this Act is passed.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Prince
George's County, a body corporate, be, and they are hereby
authorized and empowered to borrow on the faith and
credit of Prince George's County for the year 1933 a sum
equal to, but in no event in excess of, the sum that the said
County Commissioners and the County Treasurer and the
Board of Education of Prince George's County may have
to their credit on deposit in any depository in which funds
are held and known as "non liquid or frozen assets"; and
in addition thereto the said County Commissioners may
borrow such sum as may be equal to, but in no event in
excess of, fifty per cent of the uncollected taxes for the
years 1932, 1933 and 1934.

SEC. 2. And be it further enacted, That the provisions
of this Act for the year 1933 shall likewise apply in their
entirety to the year 1934; except that in the event it be-
comes necessary to borrow money in either the year 1933
or the year 1934 at any given time or times in either year,
the amount to be borrowed prior to July 1st of either year
or both years as the case may be, shall not be in anticipa-
tion of any obligations to become due, but shall be limited
to such sum or sums as may be absolutely necessary to
meet the then emergency; it being the intention and pur-
pose of this Act that only such sum as may be necessary
at any given time shall be borrowed; except, that the said
County Commissioners shall have the right to anticipate
the maturity of any bonded indebtedness or any interest
payments that may come due and payable at any fixed time,
and in addition thereto any such sum or sums that may be
needed or necessary to maintain any sinking fund require-
ments.

SEC. 3. And be it further enacted, That to enable the
County Commissioners to borrow money under the pro-
visions of this Act they are authorized and empowered to

 

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Session Laws, 1933 Session
Volume 421, Page 1026   View pdf image (33K)
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