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Session Laws, 1918 Session
Volume 486, Page 724   View pdf image (33K)
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724 LAWS OF MARYLAND. [CH. 298

shall not be sold at private sale for less than par and accrued
interest.

SEC. 5. And be it further enacted, That the actual cash
proceeds of the sales of certificates of indebtedness under this
Act, shall be paid to the Treasurer upon the warrant of the
Comptroller, and such proceeds shall be used, as fax as re-
quired for such purpose, for the redemption and payment of
the certificates of indebtedness issued under the Act of 1917
Chapter 3 aforesaid.

SEC. 6. And be it further enacted, That the sum of five
thousand dollars ($5,000.00), or so much thereof as may be
necessary, is hereby appropriated for the payment of the ex-
penses of engraving, printing, advertising and other outlays
connected with the issue of the loan hereby authorized, and for
all other preliminary expenses connected with the execution of
the provisions of this Act; the same to be paid by the Treasurer
upon the warrant of the Comptroller.

SEC. 7. And be it further enacted, That the County Com-
missioners of the several Counties of this State and the Mayor
and City Council of Baltimore, are hereby respectively di-
rected to levy the State taxes for the years 1919 and 1920 of
one-third of one cent (1/3 of 1 cent) on each One Hundred Dol-
lars ($100) of assessable property, and for the year 1921 and
annually thereafter to and including the year 1933, at seven-
eighths of one cent (7/8 of 1 cent) on each One Hundred Dol-
lars ($100) of assessable property, to be collected according to
law, to meet the interest on the amount of said certificates of
indebtedness issued and outstanding under this Act, and also
to meet and redeem so much of the principal thereof, in each
of said years, as will be represented by the certificates re-
deemable in each year, respectively, as herein specified in Sec-
tion 2 of this Act.

SEC. 8. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and being
passed upon a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the Gen-
eral Assembly, the same shall take effect from the date of its
passage.

Approved April 10th, 1918.

 

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Session Laws, 1918 Session
Volume 486, Page 724   View pdf image (33K)
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