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Session Laws, 1914
Volume 533, Page 1292   View pdf image (33K)
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1292 LAWS OF MARYLAND.

countersigned by the Clerk to said County Commissioners with
the corporate seal of said County Commissioners attached.

SEC. 2. And be it further enacted, That said bonds shall be
issued in denominations of five hundred dollars each in such
number as the County Commissioners as aforesaid may deter-
mine, provided they do not in the aggregate exceed said sum of
twenty-five thousand dollars; and that the said bonds shall bear
interest at a rate not exceeding five per centum per annum and
shall be issued always as of January first or July first and shall
bear interest from the date of said issue and shall have at-
tached coupons for the semi-annual interest payments, which
coupons shall be payable on the first day of January and the
first day of July of each and every year until maturity.

SEC. 3. And be it further enacted, That the said bonds shall
be known and designated as Worcester County Bridge Bonds,
and shall be numbered consecutively as issued, beginning with
bond number one, and the power to issue said bonds from time
to time, not exceeding the aggregate aforesaid, shall continue
for a period of ten years from the date of the passage of
this Act and none of said bonds shall be issued except upon reso-
lution of the County Commissioners duly adopted by an affirma-
tive vote of at least a majority of the persons constituting the
Board of County Commissioners of Worcester County, which
resolution shall be recorded among the minutes of the said
County Commissioners.

SEC. 4. And be it further enacted, That the daid bonds
shall mature and the principal thereof be payable as follows:
one thousand dollars thereof on the first day of July in the year
1940; and annually thereafter on the first day of July the sum
of one thousand dollars until all of said bonds so issued shall
have matured and shall have been paid; and upon the redemp-
titon of each of said bonds either before or at maturity it shall
be the duty of the County Commissioners to immediately cancel
the same and enter the cancellation thereof on the record of the
proceedings of the said County Commissioners and should the
said County Commissioners or any person having charge of the
bonds or coupons suffer the same or any part thereof to be re-
issued after payment the person or persons so offending shall
be guilty of felony and on conviction thereof shall be punished
as is provided by the Code of Public General Laws of Maryland
for embezzlement and shall in addition be liable for an amount

 

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Session Laws, 1914
Volume 533, Page 1292   View pdf image (33K)
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