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Session Laws, 1951
Volume 603, Page 1796   View pdf image (33K)
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1790 LAWS OF MARYLAND [CH. 593

General Hospital Bonds of 1951", in an aggregate sum not
exceeding $1, 200, 000. 00, and said bonds shall bear interest at
a rate not exceeding four per cent (4%), payable semi-annu-
ally; shall mature serially over a period of thirty (30) years,
the amounts of maturities to be fixed by said Commissioners,
said bonds shall be the general obligations of Anne Arundel
County, exempt from State, County and municipal taxation
within the State of Maryland, and in such form as may be
adopted or prescribed by said County Commissioners of Anne
Arundel County. The Board of County Commissioners of
Anne Arundel County shall levy annually, at the time taxes
are levied for general county purposes, a tax upon all the
property assessed for county tax purposes, within the said
County, in an amount sufficient to meet the principal and
interest of said bonds so long as any of them shall be outstand-
ing; provided, however, that if the interest matures on any
one or more of said issues before the annual levy, or before a
sufficient amount of taxes levied for the purposes of paying
said interest is collected, the said County Commissioners may
pay said interest out of the proceeds of the sale of said issue
or issues. The County Commissioners shall offer said bonds
for sale to the highest bidder by sealed bids delivered at a
place and time mentioned and described in one or more adver-
tisements inserted in at least two newspapers published in said
County, and in papers in nearby cities as directed by the
County Commissioners. The said Commissioners may adopt
such rules and regulations relating to said bonds and offering
as they may deem advisable. The proceeds derived from sale
of said bonds up to and including the sum of $600, 000. 00, and
after payment of the cost of issuance thereof, shall be paid
over to the Board of Managers of Annapolis Emergency Hos-
pital Association and shall be used for payment in part of the
cost of erecting an addition and alterations, improvements and
enlargement to Anne Arundel General Hospital at Annapolis;
and the proceeds up to the sum of $600, 000. 00 may be paid over
at any time within ten years from the effective date of this
Act toward the erection and furnishing of a hospital in the Fifth
District of Anne Arundel County.

SEC. 4. 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 the members elected to each of the two Houses of
of the General Assembly of Maryland, the same shall take effect
from the date of its passage.

Approved April 27, 1951.


 

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Session Laws, 1951
Volume 603, Page 1796   View pdf image (33K)
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