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Session Laws, 1920
Volume 539, Page 512   View pdf image (33K)
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512 LAWS OF MARYLAND. [OH. 291

Cambridge Creek, in said town of Cambridge, connecting
East Cambridge with Cambridge proper; and construct-
ing, improving, and maintaining the public county roads
and bridges in said Dorchester County; and to levy and
collect a tax upon the assessable property of Dorchester
County, as the same shall mature.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Dorchester County
are hereby authorized and empowered, for the purposes here-
inafter declared, to borrow money on the faith and credit of
Dorchester County, to the amount of three hundred fifty thou-
sand dollars ($350,000.00), and to issue bonds therefor, said
bonds when issued to have written or printed upon them a
distinct reference to the Act directing the issue of same, and
are to be designated "Dorchester County Improvement
Bonds,'' and are to be issued in denominations of not less than
one hundred dollars; but may be issued in sums of one hun-
dred dollars or any multiple thereof, deemed proper by said
County Commissioners, who shall from time to time determine
the amount or amounts of the loan authorized by this Act
which shall, from time to time, be issued; the time or times
when said loan, or any amount or amounts thereof, shall be
issued; the interest rate which said loan, or any amount or
amounts thereof, shall bear, the same, however, in no case to
exceed the rate of five per centum per annum; and the date
or dates of the maturity of the principal of the said loan, or
any amount of amounts thereof issued, as aforesaid, such date
or dates of maturity in every case, to be within not more than
thirty-five years from the time of issuance; and the said loan
shall be issued in such amount or amounts at such time or
times, and shall mature at such time or times, as the County
Commissioners of Dorchester County may, from time to time,
determine as aforesaid. The said bonds to be classified ac-
cording to their denomination and numbered consecutively
in the order of their issuance, and to have coupons attached
thereto, covering each and every interest payment, to be
signed by the President of said County Commissioners of
Dorchester County, the signature to be either printed or writ-
ten thereon, the said bonds also to be signed by the said
President and by the Treasurer of said county and to have
the corporate seal of Dorchester County affixed thereto. The


 

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Session Laws, 1920
Volume 539, Page 512   View pdf image (33K)
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