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Session Laws, 1924
Volume 568, Page 111   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 111

WHEREAS, it is of great public and economic importance to all
the people of Somerset County that the permanent improvement
of said highway shall be completed as soon as may be practica-
ble; now, therefore,

SECTION 1. Be it enacted by the General ^sembly of Mary-
land, That the County Commissioners of Somerset County be,
and they are hereby authorized and directed, subject to the
referendum vote hereinafter provided, to issue coupon bonds
on the credit of said County to the amount of eighty thousand
dollars ($80, 000) to be known as "Deals Island Road Improve-
ment Bonds"; said bonds to be in sums of five hundred dollars
($500) each; bearing date, January 1, 1925, to be signed by the
President of the Board of County Commissioners of Somerset
County, and countersigned by the Clerk of said Board, with the
Corporate seal of said Board attached to each and every bond
so issued; to bear interest at the rate of five per cent per
annum, payable semi-annually on the first day of July and Jan-
uary of each year, until maturity thereof; said bonds to be
exempt from State, County and municipal taxation, and the
coupons, or the interest on said bonds shall be received in pay-
ment of the taxes levied and assessed by said County Commis-
sioners of said Somerset County.

SEC. 2. And be it further enacted, That the said bonds shall
be issued to mature as follows:

Two thousand dollars ($2, 000) thereof on the first day of
January, 1926, and annually thereafter, the sum of two thou-
sand dollars ($2, 000) until all of said bonds shall be matured,
and have been paid; it shall be the duty of said County Commis-
sioners to immediately destroy said bonds when released and
paid, and should the said County Commissioners of Somerset
County, or any person having charge of said bonds or coupons,
suffer the same, or any part thereof to be re-issued after pay-
ment, the said party or parties so offending, shall be guilty of a
misdemeanor, and shall be subject to imprisonment, under Arti-
cle 27, of the Code of Public General Laws of Maryland, for
embezzlement, and shall be held liable for an amount equal to
that of the coupon or bond re-issued, and the costs of the suit.

SEC. 3. And be it further enacted. That the County Commis-
sioners of Somerset County shall levy each year in advance, at
the time of making the regular levy, a tax sufficient to meet and
pay the bonds which shall mature the next year following said
levy, and to pay the interest which shall fall due on all of said

 

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Session Laws, 1924
Volume 568, Page 111   View pdf image (33K)
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