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Session Laws, 1950
Volume 587, Page 278   View pdf image (33K)
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278 LAWS OF MARYLAND [CH. 28

city may provide by ordinance the conditions under which
it will replace any bonds which may become mutilated or
be destroyed or lost after the issuance thereof.

SEC. 3. And be it further enacted, That the bonds
hereby authorized to be issued and the interest paid there-
on, in the hands of the persons entitled thereto, from
time to time; shall be and remain exempt from all State,
county and municipal taxation of any kind and nature
whatsoever in the State of Maryland.

SEC. 4. And be it further enacted, That in order to
provide for the payment of the principal and interest of
said bonds and when the same respectively mature and
are payable, the city shall, in each year that any of said
bonds are outstanding, levy upon all property subject to
assessment for taxation within the corporate limits of the
city, ad valorem taxes sufficient in rate and amount to
provide the moneys necessary to pay said principal and
interest when due. Said taxes shall be levied without re-
gard to any present or future limitations on the powers
of taxation of the city and shall have the same priority
and lien and shall be levied and collected in the same man-
ner as other city taxes and the payment thereof shall be
enforced in the same manner as payment of such other
city taxes are enforced.

SEC. 5. And be it further enacted. That the city is
hereby authorized and empowered to accept from any
Federal or State Agency, grants for or in aid of any of
the projects listed in Section 1 hereof, and to make such
contracts containing such terms, provisions and condi-
tions as in the discretion of said city may seem necessary,
proper or advisable for the purpose of obtaining or secur-
ing such grants or financial assistance from any such
Federal or State Agency willing to extend the same in
furtherance of any of the purposes of this Act.

SEC. 6. And be it further enacted, That any and all
laws or parts of laws or any provision or provisions of
the Charter of the City conflicting in any way herewith
are hereby repealed, with respect to the authority hereby
granted, to the extent of such conflict, and, except as
herein provided, none of the limitations or restrictions on
the powers of the city to borrow money, to levy taxes or
to issue and sell bonds, contained in its Charter or in any
other law which limits, restricts or affects the powers
herein granted, shall be applicable hereto.


 

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Session Laws, 1950
Volume 587, Page 278   View pdf image (33K)
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