514 LAWS OF MARYLAND. [CH. 253

($75, 000) Dollars; Chapter 404 of the Acts of 1912,
Seventy-five Thousand ($75, 000) Dollars; Chapter 359 of
the Acts of 1914, Thirty-six Thousand ($36, 000) Dol-
lars, and to provide for the levy and collection of all
taxes necessary for the payment of the interest on said
bonds and to redeem and pay off said bonds as they
mature.

WHEREAS, the Board of County Commissioners for Fred-
erick County has heretofore issued bonds of the County
Commissioners of Frederick County under the authority
vested in it by the following Acts of the General Assembly
of Maryland, to wit: Chapter 483 of the Acts of 1900, in
the sum of $188, 700; Chapter 125 of the Acts of 1910, in
the sum of $75, 000; Chapter 404 of the Acts of 1912, in the
sum of $75, 000; Chapter 359 of the Acts of 1914, in the
sum of $36, 000; and

WHEREAS, the bonds issued in pursuance of the Acts of
1900 were issued at the interest rate of 3 1/2 per centum
per annum, to become due in 40 years from the date there-
of, but redeemable after 20 years from the date thereof,
and said 20-year period having expired; and

WHEREAS, the bonds issued in pursuance to the Acts of
1910, 1912 and 1914 were issued at the interest rate of 4 1/2
per centum per annum, to become due in 30 years from the
date thereof, but redeemable after 15 years from the date
thereof, and said 15-year period having expired in each
instance; and

WHEREAS, in pursuance to Chapter 216 of the Acts of the
General Assembly of 1931, the County Commissioners for
"Frederick County did issue and sell $186, 000 of bonds for
the purpose of redeeming and paying off the bonds hereto-
fore issued in pursuance to the Acts of 1910, 1912 and
1914, but that said Frederick County never received the
money for same; although bonds of the par value of $52, 000
of said issues have been redeemed and paid; and

WHEREAS, it is desirable and to the interest of the said
County Commissioners for Frederick County to be granted
the authority to refund the bonds now outstanding and
issued pursuant to the Acts of 1900, 1910, 1912 and 1914
as above enumerated, and new bonds issued at a lower rate
of interest, therefore.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Frederick
County, be and it is hereby authorized and empowered, in
its discretion, to issue and sell serial coupon bonds on the