474

LAWS OF MARYLAND.

deem for the best interest of said county; said bonds shall
not be disposed of for less than their par value and accrued
interest.

Application
of proceeds.

SEC. 3. And be it further enacted, That the said County
Commissioners are hereby authorized, empowered and directed
out of the proceeds of said bonds, to call in and redeem all
the outstanding bonds of said county issued under and by vir-
tue of chapter 214, acts of 1886, of the General Assembly of
Maryland, and out of the remainder of said proceeds to pay
off two promissory notes, now outstanding against said county
for three thousand dollars each, and the remainder of said pro-
ceeds, if any there be, shall be placed in the general funds of
said county.

Tax to pay
interest and
principal.

SEC. 4. And be it further enacted, That the said County
Commissioners in each and every year "beginning with the year
eighteen hundred and ninety-six," levy upon the assessable
property of said county, such sum or sums of money as may
be necessary to pay the interest as it falls due on all the said
bonds by them issued and outstanding under the provisions of
this act, and they shall also in each and every year, levy the
further sum of one thousand dollars for the redemption of
said bonds as they shall mature, until all of said bonds are paid,
which said sums thus levied shall be strictly applied to the
payment of said interest and to the redemption of said bonds,
and to no other debts or obligations of said county.

Effective.

SEC. 5. And be it further enacted, That this act shall take
effect from the date of its passage.

Approved April 2, 1896.