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Session Laws, 1936 (Special Session 1)
Volume 577, Page 316   View pdf image (33K)
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316 LAWS OF MARYLAND. [CH. 141

CHAPTER 141.

AN ACT to authorize and empower the County Commis-
sioners of Kent County to borrow upon the faith and
credit of said County not exceeding $35, 000. 00 for the
construction, maintenance or repair of roads, and to is-
sue bonds or other evidences of indebtedness therefor,
and to provide for the levying of taxes for the payment
of said bonds and the interest thereon.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Kent County
be and they are hereby authorized and empowered to bor-
row, at any time and from time to time, upon the faith
and credit of said County, as they in their discretion may
determine, not to exceed in the aggregate $35, 000. 00 to be
used for the construction, maintenance, or repair of roads.

SEC. 2. And be it further enacted, That the said
County Commissioners of Kent County be and they are au-
thorized to issue bonds or other evidences of indebtedness
of said County for the sum or sums so borrowed under
the provisions of this Act, at any time, in such form as
they may determine, and said bonds or other evidences of
indebtedness shall be so issued that $5, 000. 00 thereof
shall become due and payable July 1, 1942, and $5, 000. 00
on July 1st of each year thereafter until all of said bonds
shall mature and be paid. The said bonds or other evi-
dences of indebtedness shall be signed by the President of
the said County Commissioners of said County, shall be
countersigned by the Clerk to said Commissioners, and the
seal of said County Commissioners shall be affixed to each
bond or other evidences of indebtedness, and the interest
coupons attached thereto shall be authenticated by the fac-
simile signature of the Treasurer of said County printed,
engraved or lithographed thereon.

SEC. 3. And be it further enacted, That such bonds or
other evidences of indebtedness as may be issued under
the provisions of this Act shall be and remain obligations
of the County Commissioners of Kent County, issued upon
the full faith and credit of said County, and that said
bonds or other evidences of indebtedness shall be issued
and sold in such manner and upon such terms and condi-
tions, and shall bear such rate of interest not exceeding
four per cent as said County Commissioners of Kent
County may determine, prior to the issue thereof, but the

 

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Session Laws, 1936 (Special Session 1)
Volume 577, Page 316   View pdf image (33K)
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