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Session Laws, 1929
Volume 572, Page 570   View pdf image (33K)
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570 LAWS OF MARYLAND. [CH. 209

of reconstructing and improving the public roads of said
county; and to provide for the payment of said bonds and
the interest thereon by a general tax levy on all the assessable
property in Prince George's County; and to provide further
for part of the proceeds of sale of said bonds to be used
when and where necessary for the procurement of rights-of-
way for highways in said county by purchase or condemna-
tion in the judgment of the County Commissioners of Prince
George's County.

SECTION 1. Be it enacted by the General Assembly of Mary-
land,
That the County Commissioners of Prince George's County
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 Five Hundred and
Fifty Thousand Dollars ($550, 000), in such denominations, and
to bear such rate of interest not exceeding five percentum (5%)
per annum, as may be determined by the County Commissioners
of Prince George's County, Said bonds shall be dated as of the
first day of July, 1929, as hereinafter provided; and the interest
thereon shall be payable semi-annually on the first days of
January and July in each and every year until said bonds are
fully paid; said bonds, when issued, shall be signed by the Presi-
dent of the Board of County Commissioners of Prince George's
County, and shall be counter-signed by the Clerk to said com-
missioners; the seal of said County Commissioners of Prince
George's County shall be affixed to each bond, and the interest
coupons on said bonds shall bear the facsimile signature of the
Treasurer of said county, printed, lithographed or engraved
thereon.

SEC. 2. And be it further enacted, That said bonds shall be
dated July 1, 1929, and shall mature and be payable on July
1, 1959, and shall be known and designated as "Public Road
Bonds of Prince George's County of 1929"; and said bonds and
the interest thereon shall be and remain exempt from State,
County and municipal tax or taxes of every kind whatsoever in
the State of Maryland.

SEC. 3. And be it further enacted, That said bonds shall be
sold at such times and in such amounts as said County Com-
missioners may determine, except that all of said bonds shall
be sold not later than July 1, 1930, and should any of said bonds
be sold or disposed of at any time during said period whereon
interest may have accrued, the said interest shall be adjusted at
the time of sale of said bonds, or any of them, between the
County Commissioners and the purchaser or purchasers thereof.
Before proceeding to sell any of said bonds the said County Com-


 

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Session Laws, 1929
Volume 572, Page 570   View pdf image (33K)
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