LAWS OF MARYLAND OF 1927

MARYLAND, Sct:

At a Session of the General Assembly of Maryland, begun and
held in the City of Annapolis, on the Fifth day of
January, 1927, and ending on the Fourth day of
April, 1927, the Honorable Albert C. Ritchie being
Governor of the State, the following Laws were
enacted, to wit:

CHAPTER 1.

AN ACT to authorize and empower the County Commissioners
of Baltimore County to borrow upon the faith and credit
of said County a sum not to exceed ($2, 000, 000) Two Mil-
lion Dollars, and to issue and sell coupon bonds therefor,
and to expend the proceeds thereof for the purpose of con-
structing and permanently improving the public roads of said
County; providing for the payment of said loan, principal
and interest, by the levy of taxes; providing generally for
the time, terms and manner of said bond issue; and provid-
ing that said act be passed as an emergency measure.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Baltimore Coun-
ty are hereby authorized and empowered to borrow money on
the faith and credit of said County, and to issue and sell coupon
bonds therefor for an amount not to exceed ($2, 000, 000) Two
Million Dollars in denominations of ($1, 000) One Thousand
Dollars, to bear interest at such rate as the County Commission-
ers of Baltimore County may determine not exceeding five per-
centum per annum, said interest to be payable semi-annually on
the first days of April and October in each and every year, cou-
pons to be attached to said bonds for each of said semi-annual
interest payments to be signed by the President of said County
Commissioners, the said signature to said coupons either to be
printed or written 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 said County affixed thereto,
and said loan and every part thereof and the interest thereon
shall be and remain exempt from State, County and Municipal
taxes.