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Session Laws, 1933 Session
Volume 421, Page 258   View pdf image (33K)
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258 LAWS OF MARYLAND. [CH. 153

Mayor and City Council of Baltimore, be and it is hereby
authorized and empowered to issue its notes for the sums
so borrowed under the provisions of this Act at any time
and from time to time in such form as may be determined
by each such respective county, municipal or public cor-
poration, special district and/or political sub-division of
this State, to be issued and sold in such manner either at
public sale or by private negotiation and to bear such rate
of interest and to be in such form and payable at such
time or times not later than June 1, 1935, as such issuing
county, municipal or public corporation, special district
and/or political sub-division may determine, it being the
intent of this Act to authorize and empower each and every
such county, municipal or public corporation, special district
and/or political sub-division of this State to borrow upon
its own faith and credit such sums as may be necessary to
meet such of its obligations, including the accrued interest
thereon, evidenced by coupon bonds or notes maturing on
or after March 1st, 1933, until June 1st, 1935, for which
funds may not otherwise be available, to the end that no
default occur in connection with any such obligations so
evidenced by any such coupon bonds or notes maturing
during said period.

SEC. 3. And be it further enacted, That such notes as
may be issued under the provisions of this Act shall be and
remain the obligations of the issuing county, municipal or
public corporation, special district and/or political sub-
division of this State, as the case may be, issued upon its
full faith and credit and that the entire property subject
to taxation by such issuing county, municipal or public
corporation, special district and/or political sub-division
of this State shall be liable for the payment thereof and
that each and every such county, municipal or public cor-
poration, special district and/or political sub-division of
this State so issuing any such notes under the provisions
of this Act shall levy a tax upon all property subject to
assessment by it, sufficient to provide funds for the pay-
ment of said indebtedness so evidenced by its notes issued
under the provisions of this Act, together with the interest
thereon, before the maturity of all such notes not later
than June 1, 1935, provided, however, that in the event it
be necessary to provide funds for the payment of such
notes so issued under the provisions of this Act by and
such general levy that nothing herein contained shall be
construed as in any manner to alter or amend any law
providing for the payment of obligations of any such

 

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Session Laws, 1933 Session
Volume 421, Page 258   View pdf image (33K)
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