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1024 LAWS OF MARYLAND. [CH. 480
CHAPTER 480.
(House Bill 583)
AN ACT to reduce the amount of bonds heretofore authorized
by Chapter 335 of the Acts of the General Assembly of Mary-
land, Session of 1937, from Seven Hundred Twenty-four
Thousand Dollars ($724, 000. 00) to Five Hundred Fifty-two
Thousand Dollars ($552, 000. 00), and to validate the out-
standing bonds authorized thereby.
WHEREAS, Chapter 335 of the Acts of the General Assembly
of Maryland, Session of 1937, authorized and empowered the
County Commissioners of Montgomery County to borrow a
sum not to exceed Seven Hundred Twenty-four Thousand Dol-
lars ($724, 000. 00) for the purpose of carrying out a school con-
struction program for Montgomery County as proposed by the
Board of Education of said County, and
WHEREAS, By virtue of Federal funds being received and
used in the carrying out of said program, the sum of approxi-
mately One Hundred Seventy-five Thousand Dollars ($175, -
000. 00) authorized by said Act will be unnecessary to carry
out said program, and
WHEREAS, It is the desire of the General Assembly of Mary-
land to reduce the amount heretofore authorized by the afore-
said Act from the sum of Seven Hundred Twenty-four Thou-
sand Dollars ($724, 000. 00) to the sum of Five Hundred Fifty-
two Thousand Dollars ($552, 000. 00), therefore
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the authority contained in Chapter 335 of the Acts
of the General Assembly of Maryland, Session of 1937, author-
izing and empowering the County Commissioners of Mont-
gomery County to borrow a sum not to exceed Seven Hun-
dred Twenty-four Thousand Dollars ($724, 000. 00) be reduced
and changed so that such County Commissioners are author-
ized and empowered to borrow by virtue of the authority con-
tained in said Act not to exceed the sum of Five Hundred
Fifty-two Thousand Dollars ($552, 000. 00), and said County
Commissioners are hereby relieved of any requirement to issue
or sell all of the bonds authorized by said Chapter 335.
SEC. 2. And be it further enacted, That all of the bonds
issued by virtue of the provisions of said Chapter 335 of the
1937 Session, and now outstanding, are hereby validated and
legalized and declared to be valid obligations of said Mont-
gomery County.
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