304

LAWS OF MARYLAND.

SECTION 1. Be it enacted by the General As-
sembly of Maryland, That the county commis-

Who empow-
ered to borrow

sioners of Washington county are hereby
authorized and empowered to borrow such sum
or sums of money, on the credit of said county,
as may be sufficient to pay off the bonds of
Washington county, which were issued by said
county in pursuance of the act of the General
Assembly of Maryland passed at January ses-
sion, eighteen hundred and seventy-eight, chap-
ter two hundred and forty-eight, falling due
in the year eighteen hundred and eighty-
eight, and, if necessary, to issue coupon bonds
therefor, in sums of not less than one hundred
nor more than one thousand dollars, to be
signed by the president of the board of county
commissioners of Washington county, bearing

Rate of Inter-
act.

interest at a rate not exceeding five per centum
per annum, payable semi-annually on the first
days of January and July respectively ; said
bonds to be sold by the said county commissioners,
and the proceeds applied to the payment of said
county bonds so as aforesaid, falling due in the
year eighteen hundred and eighty-eight.
SEC. 2. And be it enacted, That the said county

Who to fix
time of matur-
ing.

commissioners shall fix the time or times at
which the said bonds shall mature, not to ex-
tend beyond the period of fifteen years from the
date on which they may be issued, and shall be
made redeemable at the pleasure of said county
commissioners, at or before the maturity thereof.
SEC. 3. And be it enacted, That the said county

What the
county com-
missioners
shall cause to
be kept.

commissioners shall cause to be kept and pre-
served a careful register of the bonds so called
in, which they are hereby directed to cancel im-
mediately ; and a careful register of the bonds
so issued, including therein the number of the
bond, the person to whom issued, the date of issue
and of maturity.
SEC. 4. And be it enacted, That the said county

What author-
ised to do.

commissioners are hereby authorized and em-
powered to levy a tax upon the taxable property
of Washington county, in each and every year,
sufficient to pay the interest on said loan or bonds,
and to retire the principal whenever the same
shall become due and payable.