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Session Laws, 1931
Volume 580, Page 253   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR.                  253

tence, paragraph or section, but shall be confined to the par-
ticular application so found unconstitutional or invalid.

SEC. 2. And be it further enacted, That this Act shall take
effect on June 1st, 1931.

Approved April 6, 1931.

CHAPTER 118.

AN ACT to authorize the County Commissioners of Caroline
County to borrow on the faith and credit of Caroline County
seventy-five thousand dollars ($75, 000. 00) and to issue
coupon bonds therefor and to sell the same, the proceeds
arising from the sale thereof to be applied to the payment
and liquidation of certain outstanding notes, obligations and
floating indebtedness due and owing by the said County
Commissioners of Caroline County, and to provide for the
levying of a tax annually upon the assessable property of
Caroline County to pay interest thereon and for the redemp-
tion and payment of said bonds as the same shall fall due.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Caroline County
be and is hereby authorized and directed to borrow on the
faith and credit of Caroline County the sum of seventy-five
thousand dollars ($75, 000. 00) and to issue coupon bonds
therefor in sums of one thousand dollars ($1, 000. 00) each, to
be signed by the president of the Board of County Commis-
sioners of Caroline County and countersigned by the clerk to
said board with the seal of said County Commissioners of
Caroline County affixed thereto, and said bonds shall be desig-
nated as "Caroline County Refunding Bonds" and shall be
numbered consecutively from one (1) to seventy-five (75),
inclusive, and shall bear interest at the rate of four and one-
quarter (4 1/4) per cent, per annum, payable semi-annually on
the first day of November and May of each and every year
accounting from May 1st, 1931, and said bonds shall be ex-
empt from all taxation for State, county and municipal pur-
poses in the State of Maryland and shall have printed on them
a distinct reference to this Act authorizing their issue.

 

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Session Laws, 1931
Volume 580, Page 253   View pdf image (33K)
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