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Session Laws, 1951
Volume 603, Page 624   View pdf image (33K)
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624 LAWS OF MARYLAND [CH. 247

number of said bonds will mature in consecutive annual serial
installments. The City may provide by ordinance the condi-
tions under which it will replace any bonds which may become
mutilated or be destroyed or lost after the issuance thereof.

SEC. 4. And be it further enacted, That the bonds hereby au-
thorized to be issued and the interest paid thereon, 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. 5. And be it further enacted, That in order to provide
for the payment of the principal and interest of said bonds as
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 with-
in 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 regard 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
manner 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. 6. 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 conditions as in the discretion of said
City may seem necessary, proper or advisable for the purpose
of obtaining or securing 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. 7. And be it further enacted, That any and all laws or
parts of laws or any part or parts of the Charter of the City
conflicting in any way herewith are hereby repealed, with re-
spect 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.

SEC. 8. And be it further enacted, That Chapter 28 of the
Acts of the General Assembly of Maryland, passed at its


 

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Session Laws, 1951
Volume 603, Page 624   View pdf image (33K)
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