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Session Laws, 1929
Volume 572, Page 970   View pdf image (33K)
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970 LAWS OF MARYLAND. [CH. 346
CHAPTER 346.

AN ACT to authorize, direct and empower the Board of
County Commissioners of Montgomery County to borrow
upon the faith and credit of said County to the amount of
two hundred thousand dollars ($200, 000. 00) and to
issue and sell bonds therefor, the proceeds thereof to be
used in the construction of certain roads, improvement and
widening of Commerce Street, in the Town of Rockville,
Montgomery County, Maryland, by increasing the width of
said street to the extent of 16 additional feet, and an under-
pass in Montgomery County, the acquiring of land therefor;
and to provide for the payment of interest on said bonds and
of the principal thereof by the levy of taxes, and providing
that said Act be passed as an emergency measure.

WHEREAS, the Board of County Commissioners of Mont-
gomery County by resolution adopted May 31, 1927, provided
for a program of road construction in said county during the
years 1927, 1928 and 1929; and

WHEREAS, the said program was endorsed by the then
elected members of the Maryland General Assembly from
Montgomery County who did on April 7, 1928, by a written
statement, assure said County Commissioners that they as
members of the General Assembly would support a bond issue
for the purpose of permanently financing said construction;
and

WHEREAS, certain construction as adopted in said program
has not yet been contracted for; now, therefore

SECTION 1. Be it enacted by the General Assembly of
Maryland,
That the Board of County Commissioners of Mont-
gomery County, be and they are hereby authorized, directed and
empowered to issue serial coupon bonds on the faith and credit
of said county, to the amount of two hundred thousand dollars
($200, 000. 00) par value, said bonds to be issued in denomi-
nations of one hundred dollars ($100. 00) or any multiple
thereof, to bear interest at a rate not exceeding five per centum
(5%) per annum, payable semi-annually in each year during
which said bonds shall be outstanding and remain unpaid, to-
be signed by the President of the Board of County Commis-
sioners of said county, and countersigned by the Clerk thereof,


 

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Session Laws, 1929
Volume 572, Page 970   View pdf image (33K)
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