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Session Laws, 1920
Volume 539, Page 1205   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR 1205

bearing a rate of interest not exceeding six per cent, per
annum, payable semi-annually on the first day of January
and July in each and every year, said bonds shall be exempt
from State, County and municipal taxation, and the said
coupons of said bonds shall, as they become due and payable,
be receivable by the Treasurer of said Charles County in
payment of County taxes. The said bonds to be sold by the
County Commissioners after due advertisement to the highest
bidder or bidders, but the said Commissioners shall have
the right to reject any or all bids.

SEC. 2. And be it further enacted, That said bonds shall
be dated July 1, 1920, and shall be so issued that one thou-
sand ($1,000) dollars thereof shall mature and become pay-
able on July 1, 1925, and one thousand ($1,000) dollars on
July 1st in each and every year thereafter until all of said
bonds shall have matured and been redeemed.

SEC. 3. And be it further enacted, That the bonds author-
ized by this Act shall be designated as "Refunding Bonds of
Charles County," and shall contain a reference to this Act,
and the funds derived from the sale of said bonds shall be
used for redeeming and paying the bonds of Charles County
now outstanding and for no other purpose.

SEC. 4. And be it further enacted, That the County Com-
missioners of Charles County be and they are hereby author-
ized and directed to levy annually on the taxable property
of said County a sum of money sufficient to pay the interest
on said bonds and to redeem said bonds as they mature and
become payable, and said taxes shall be collected in like
manner as other taxes are collected in said County and when
collected, shall be applied to the payment of the interest on
said bonds and to the redemption of said bonds as they
mature and become payable.

SEC. 5. And be it further enacted, That this Act shall take
effect June 1, 1920.

Approved April 16, 1920.

CHAPTER 600.

AN ACT to repeal and re-enact with amendments Section 25 of
Article 56 of the Annotated Code of Maryland, title "Li-


 

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Session Laws, 1920
Volume 539, Page 1205   View pdf image (33K)
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