LLOYD LOWNDES, ESQUIRE, GOVERNOR.

of Chapter 214 of the Acts of 1882; and also to payoff
six thousand dollars floating indebtedness and to levy a tax
on the assessable property of Caroline County, for the pay-
ment of the same.

473

WHEREAS, The said County Commissioners, as such, are
indebted to sundry persons in various sums of money aggre-
gating the sum of twenty-four thousand dollars, five hundred
dollars; and,

Preamble.

WHEREAS, The said County Commissioners are desirous of
funding said indebtedness at a lower rate of interest, and of
securing the payment thereof to the various parties to
whom said indebtedness is respectively due and owing; there-
fore,

Preamble.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Caroline county be
and they are hereby authorized and empowered to issue bonds,
with interest coupons attached, to an amount not exceeding
the sum of twenty-four thousand five hundred dollars, signed
by the president of the Board of said County Commissioners,
sealed with the seal of the County Commissioners of said
county, and attested by the clerk of said County Commission-
ers; said bonds to bear interest at a rate not exceeding four
and one half per centum per annum, payable semi-annually,
and each of said bonds to be in sums of one hundred dollars
or some multiple thereof, and payable, one thousand dollars
on the first day of April, in the year eighteen hundred and
ninety-seven, and one thousand dollars on the same day and
month of each and every succeeding year until the whole of
said twenty-four thousand, five hundred dollars is paid; said
bonds to be dated the first day of April, in the year eighteen
hundred and ninety-six, and shall be exempt from county and
municipal taxes.

May issue
bonds.

SEC. 2. And be it further enacted, That in negotiating the
sale of said bonds, the eaid County Commissioners shall first
give not less than ten days' notice by advertisement, inviting
proposals in writing for the purchase of said bonds, to be
opened on a day certain, and the same shall be disposed of to
the highest bidder or bidders, for cash, at not less than the par
value thereof and accrued interest, but the said County Com-
missioners shall have the power to refuse and reject any and all
bids, and to re-offer the same bonds, or any part thereof, either
as above provided, or in such other manner as they may

Sale of bonds.