194 LAWS OF MARYLAND. [CH. 155
the construction of said addition and all necessary alterations,
enlargements and improvements, then said less sum shall be
divided equally between said County and said municipality
and the contribution required of each shall be correspondingly
smaller. The Board of Governors of the Memorial Hospital
of Cumberland shall, from time to time, give to said County
and said municipality, when requested to do so, a full, accurate
and detailed accounting of the expenditure of the sums hereby
authorized to be paid to said corporation.
SEC. 2. And be it further enacted, That the County Com-
missioners of Allegany County are hereby authorized and em-
powered to provide its share of said total contribution, in
whole or in part, from any unrestricted funds of the County
not otherwise allocated now or hereafter available, or said
County Commissioners of Allegany County may, in its abso-
lute discretion, raise the entire amount of its contribution to
said total fund, or any part thereof, by borrowing upon its
faith and credit the amount so needed to make up said con-
tribution, not exceeding in any event the maximum sum of
One Hundred and Fifty Thousand Dollars ($150, 000. 00) which
said borrowing is hereby specifically authorized. In the event
the County Commissioners of Allegany County elect to exer-
cise the authority to borrow as herein granted, then the same
shall be accomplished by the issue and sale of bonds upon the
full faith and credit of the County in the manner and upon
the terms and conditions hereinafter set forth.
SEC. 3. And be it further enacted, That the bonds hereby
authorized to be issued shall be known as "Memorial Hospital
Addition Bonds, Issue of 1941", and said bonds shall be issued
in denominations of One Thousand Dollars ($1, 000. 00) each
and shall bear interest at a rate not exceeding five per centum
(5%) per annum, payable semi-annually, for which proper
interest coupons shall be attached to said bonds. Said bonds
shall be signed by the President of the County Commissioners
of Allegany County and the corporate seal of said County
shall be attached to each bond attested by the Clerk to said
County; the interest coupons attached to said bonds shall bear
the facsimile signature of said President, printed, lithographed
or engraved thereon, and each of said bonds shall have written
or printed on the face thereof a distinct reference to this Act
by quotation of its title. The validity of said bonds or the
coupons attached thereto shall in no wise be affected by reason
of the fact that the officers of the County signing the same have
ceased to be such prior to the delivery of said bonds. The
County Commissioners of Allegany County are hereby granted
full and absolute discretion to determine whether said bonds
shall be issued subject to registration as to principal and in-
|
![clear space](../../../images/clear.gif) |