38

LAWS OF MARYLAND.

CHAP. 32.

unable to pay said debts because of certain defalcations of the
taxes levied in said year ; and
WHEREAS, The Board of County School Commissioners of

Preamble.

Somerset county has at various times become indebted in
certain sums of money for the purpose of maintaining its
schools ; and
WHEREAS, Further indebtedness on the part of the Board

Preamble.

of County School Commissioners is about to be incurred by
said board for the purpose of maintaining its schools for the
school year of 1902; and

Preamble.

WHEREAS, It is desirable to provide by law for the gradual
liquidation of said indebtedness ; therefore,

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Somerset
county, be and they are hereby directed to immediately issue

Bonds to be
issued.

bonds to the amount of eighteen thousand dollars ($18,000),
said bonds to be in sums of $500 each, to be signed by the
president of the Board of County Commissioners, and counter-
signed by the clerk of the Board of County Commissioners,
with the corporate seal of said board attached to each and
every bond so issued, said bonds to bear interest at a rate not
exceeding four and one-half per cent, per annum, payable
semi-annually on the first day of April and the first day of
October, in each and every year, until the maturity thereof,
and to have coupons attached to them for the interest, and the
said coupons shall be receivable by the collectors of taxes or
the county treasurer of said county in payment of county
taxes, and the said bonds shall be exempt from county and
municipal taxes.
SEC. 2. And be it enacted, That said bonds shall be issued
to mature as follows :
Five hundred dollars thereof in the year 1923, and annually
thereafter, the sum of $500 per year until all of said bonds

Coupons to be
destroyed.

shall be matured, and when any bonds shall have matured and
have been paid, and when any coupon of said bond shall have
matured and have been paid, it shall be the duty of the said
County Commissioners to immediately destroy the same; and
should the said County Commissioners or any person having
charge of the bonds or coupons, suffer or permit the same or
any part thereof to be reserved after payment, the party or
parties so offending shall be deemed guilty of a misdemeanor,

Penalty.

and shall be subject to punishment by article 27 of the Code
of Public General Laws of Maryland for embezzlement, and
shall be held liable for an amount equal to that of the bond
re-issued, and the costs of suit and the attorney's fee to be
demanded by court.