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LAWS OF MARYLAND.

Chapter 225.

AN ACT to authorize the county commission-
ers of Washington county to issue bonds for
building school houses in Washington county,
and to levy a tax for the payment of the same.

SECTION 1. Be it enacted by the General Assem-
bly of Maryland, That the county commissioners

Issue bonds.

of Washington county be and they are hereby
authorized and empowered, in their discretion,
to issue bonds to an amount not exceeding
twenty thousand dollars, in sums not less than
one hundred nor more than one thousand dol-
lars each, to be signed by the president of the
board of said county commissioners and coun-
tersigned by the clerk of said board ; said bonds
to bear interest at a rate not exceeding five per
cent, per annum, payable semi-annually on the
first day of April and the first day of October in
each and every year during which said bonds
may run and remain unpaid, and the coupons
for interest on said bonds shall be receivable
by the collector of the taxes for said county, in
payment of county taxes, and said bonds shall
be exempt from county taxation.
SEC. 2. And be it enacted, That said bonds
shall be issued to mature at such dates as shall

How issued.

not require the payment in any one year of more
than one thousand dollars of the principal sum
thereof, and shall be redeemable at the pleasure
of said county commissioners at or before their
maturity ; but none of said bonds shall be issued
to mature before the first day of April, in the
year eighteen hundred and eighty-nine.
SEC. 3. And be it enacted, That to redeem said

How re-
deemed.

bonds, the county commissioners of Washington
county shall, annually, levy upon the assessable
property of said county a tax sufficient to pay
the interest on said bonds and the principal of
such portions as may mature in each and every
year after the date of their issue, and the said
levy shall be designated as "School-house fund."

Disposal of
proceeds.

SEC. 4. And be it enacted, That the proceeds
arising from the sale of said bonds shall be paid
over by the county commissioners of said county
to the treasurer of the board of school commis-