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Session Laws, 1936 (Special Session 1)
Volume 577, Page 75   View pdf image (33K)
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HARRY W. NICE, GOVERNOR. 75

vide for the payment of certain funds to the Treasurer
of Allegany County by the State Roads Commission of
^Maryland; and to provide 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 Allegany be
and they are hereby authorized and empowered to issue
during each of the years 1936, 1937, 1938, 1939 and 1940
serial coupon bonds on the faith and credit of said County
to the amount of $60, 000. 00, par value, during each of said
years in denominations of $100, 00 or any multiple thereof
as may seem advisable to said County Commissioners of
Allegany County, to bear interest from date payable semi-
annually in each year during which said bonds shall be
outstanding and remain unpaid at a rate not to exceed five
per centum per annum (5%), to be determined by said
County Commissioners of Allegany County; said bonds
when issued to be signed by the President of the County
Commissioners of said County and counter-signed by the
Clerk thereof (provided that the coupons for the interest
thereon may be authenticated by the engraved, litho-
graphed, or printed signature of the President of said
County Commissioners), to have the corporate seal of said
County Commissioners of Allegany County affixed thereto
and to have written or printed on them a distinct refer-
ence to the Act authorizing the issue of the same, and to
be designated as "Allegany County Roads Bonds, Issue of
1936, " and the said bonds when issued and all interest
thereon shall be exempt from State, County and Municipal
taxation in Maryland.

SEC. 2. And be it further enacted, That the said
County Commissioners of Allegany County are hereby em-
powered and authorized to issue the said bonds and sell
the same at such time or times and in such amounts as it
may deem advisable during the years 1936, 1937, 1938,
1939 and 1940, and to use the proceeds from the sale of
any of said bonds for the purpose of making up during
each of said years any deficiency between the amount of
money paid by the State Roads Commission of Maryland
to the Treasurer of Allegany County from the Lateral
Road Gasoline Tax Fund as provided by Chapter 105
of the Acts of the General Assembly of Maryland,
session of 1931, and the sum of One Hundred
Thousand Dollars ($100, 000. 00), which said sum is the
amount necessary annually to retire the "Allegany County

 

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Session Laws, 1936 (Special Session 1)
Volume 577, Page 75   View pdf image (33K)
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