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Session Laws, 1920
Volume 539, Page 791   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 791

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Montgomery County
be and they are hereby authorized and directed to put in good
repair the State-aided highway from Poolesville to Barnes-
ville, in said Montgomery County, and to use the funds for
said repairs out of the sale of the bonds hereinafter authorized.

SEC. 2. And be it further enacted, That the County Com-
missioners of Montgomery County are hereby authorized and
directed to borrow money on the credit of said county in a
sum not to exceed twelve thousand dollars, for the purpose of
putting in good repair the State-aided highway from Pooles-
ville to Barnesville, in said county, and the said County
Commissioners shall issue coupon bonds under the corporate
seal of said County Commissioners for the amount borrowed
under the provisions of the Act, the said bonds to be signed
by the President of the Board of County Commissioners and
countersigned by the Clerk thereof, in sums not less than one
hundred dollars and not more than five hundred dollars; the
said bonds to bear interest from the date of issue thereof, at
a rate of not more than, five per centum per annum, payable
semi-annually, and which said interest to the maturity of each
of said bonds shall be provided for and set forth in the
coupons attached to each of said bonds, respectively, for the
interest due and payable thereon, and which said bonds shall
have printed on them a distinct reference to this Act, authoriz-
ing their issue.

SEC. 3. And be it further enacted, That all bonds issued
under the provisions of this Act shall be redeemable as fol-
lows, that is to say, not less than one thousand dollars thereof
in one year from the date of their issue and thereafter an-
nually one thousand dollars each and every year until the
whole amount of said bonds and coupons shall have been fully
paid; and to this end the said County Commissioners shall
issue the said bonds in series, redeemable, in their proper order ;
and the said bonds shall be sold after due advertisement at
public, or private, sale, in the discretion of the said County-
Commissioners, and none of said bonds shall be sold for less
than par and accrued interest.

SEC. 4. And be it further enacted, That the said County
Commissioners shall cause to be levied and collected on the-
assessable property of the Third Election District and the
Eleventh Election District of said county an additional tax


 

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Session Laws, 1920
Volume 539, Page 791   View pdf image (33K)
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