330

LAWS OF MARYLAND.

Interest.

each and every year said bonds may remain unpaid; and said
bonds shall be issued in amounts not exceeding $1,000, nor
less than $100 each, to be signed by the president of said
Board of County Commissioners, sealed with its corporate seal,
attested by the signature of the clerk of said Board, and dated
the first day of April, 189i; and the coupons for interest on
said bonds shall be receivable by the collectors of taxes for
said county in payment of county taxes; and said bonds shall
be exempt from county taxation.

Maturity of
bonds.

SEC. 3. And be it enacted, That said bonds shall be issued so
as to mature at such dates as shall require the payment of the
sum of $5,000 of the same in each and every year, and so that
the first series of said bonds, to the amount of $5,000, shall
become due and payable on the first day of April, in the year
nineteen hundred and ten, and a like series of like amount on
the first day of April, in each and every year thereafter, so
that the last series of said bonds of $5,000 shall fall due on
the first day of April, nineteen hundred and twenty- nine; but
shall be redeemable, at the pleasure of said County Commis-
sioners, at any time before their maturity.

SEC.4. And be it enacted, That to redeem said bonds, and

Redemption
of bonds.

pay the interest thereon, the County Commissioners of Alle-
gany county shall annually levy up'tn the assessable property
of said county a tax sufficient to pay the interests on said
bonds, as it shall mature, until the first series of said bonds
shall become due and payable; and thereafter, in addition to
said interests, they shall annually levy the sum of $5,000 for
the redemption of said bonds as they shall mature from year
to year until all said bonds are paid.

Effective.

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

Approved April 3d, 1894.