590                         LAWS OF MARYLAND.                  [CH. 216

of the Acts of 1912, $75, 000. 00; Chapter 359 of the Acts
of 1914, $36, 000. 00; and issue and sell coupon bonds there-
for, the proceeds thereof to be used to pay off the above
enumerated bond issues and to provide for the payment of
the interest on the bonds hereby authorized and of the prin-
cipal thereof by the levy of taxes on the assessable property
in Frederick County.

WHEREAS, The Board of County Commissioners for Fred-
erick County have heretofore issued bonds of the County Com-
missioners for Frederick County under the authority vested in
it by the following Acts of the General Assembly of Maryland,
to wit: Chapter 125 of the Acts of 1910, in the sum of
$75, 000. 00; Chapter 404 of the Acts of 1912, in the sum of
$75, 000. 00, and Chapter 359 of the Acts of 1914, in the sum
of $36, 000. 00; and

WHEREAS, The bonds issued in pursuance of each of the
above enumerated Acts were issued at the interest rate of
four and one-half per cent, per annum, to become due in thirty
years from the date thereof, but redeemable after fifteen years
from the date thereof, and said fifteen-year period having
expired in each instance; and

WHEREAS, It is desirable and to the interest of the said
County Commissioners for Frederick County to be granted the
. authority to refund said bonds and new bonds issued at a lower
: rate of interest.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of redeeming and extending
: and altering the time of payment of a total of one hundred
eighty-six thousand ($186, 000. 00) dollars of bonds issued by
the County Commissioners for Frederick County, under and
by virtue of Chapter 125 of the Acts of the General Assembly
of Maryland of 1910, in the amount of seventy-five thousand
($75, 000. 00) dollars and under and by virtue of Chapter 404
of the Acts of the General Assembly of Maryland of 1912, in
the amount of seventy-five thousand ($75, 000. 00) dollars, and
under and by virtue of Chapter 359 of the Acts of the General
Assembly of Maryland of 1914, in the amount of thirty-six
thousand ($36, 000. 00) dollars, all of which are redeemable
after fifteen years from the several dates of issue therefor, the
said Board of County Commissioners for Frederick County,