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Session Laws, 1949
Volume 590, Page 898   View pdf image (33K)
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398 LAWS OF MARYLAND. [CH. 365

by the Board exclusively and solely for such public school or
schools, and in the event the amounts so borrowed shall prove
inadequate for the financing of any such public school, at
any time, the Board may issue additional bonds within the
limitations hereof for the purpose of evidencing the borrow-
ing of additional funds for any such public school, provided
the resolution authorizing such additional bonds shall so
recite, but if the funds derived from the sale of any issue of
any such bonds shall exceed the amount needed to finance the
public school or schools described in said resolution, the
excess funds so borrowed and not used by the Board shall be
set apart by the Board and applied in payment of the first
principal maturity of the bonds so issued or to the redemp-
tion of any part of said bonds, if the same shall have been
made redeemable, unless said Board shall adopt a resolution,
which shall be filed with and approved by the County, allo-
cating said excess funds to some other part of the school
program of the Board. In like manner, money so borrowed
for the purpose of funding notes issued pursuant to the
authority of Chapter 434 of the Acts of the General Assembly
of Maryland passed at its January Session in 1947 shall be
used only for purpose of paying the principal of any such
notes and the amounts which the Board shall borrow for such
purpose shall not, at any time, exceed the foregoing limita-
tion.

SEC. 2. And be it further enacted, That this Act is hereby
declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety, and
having been passed by a yea and nay vote, supported by three-
fifths of all of the members elected to each of the two Houses
of the General Assembly of Maryland, the same shall take
effect from the date of its passage.

Approved April 22, 1949.

CHAPTER 365
(House Bill 423)

AN ACT to repeal and re-enact, with amendments, Section
24 of the Code of Public Local Laws of Anne Arundel
County (1947 Edition), sub-title "Annapolis", providing
for the appointment, removal and salary of the Annapolis
Police Commissioner.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 24 of the Code of Public Local Laws of

 

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Session Laws, 1949
Volume 590, Page 898   View pdf image (33K)
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