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Session Laws, 1955
Volume 620, Page 1153   View pdf image (33K)
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Theodore E. McKeldin, Governor                  1153

the County or the construction of an Administration Building to
be located in the town of Upper Marlboro AND THE REMAIN-
ING TWO HUNDRED AND FIFTY THOUSAND DOLLARS
($250,000.00) SHALL BE USED FOR MISCELLANEOUS CON-
STRUCTION OR MODIFICATION OF BUILDINGS OR AC-
QUISITION OF LAND IN PRINCE GEORGE'S COUNTY; to
provide for the repayment of said bonds and the interest thereon
by a general tax levy against all of the taxable property within the
County; and to provide for the manner of the expenditure of the
proceeds of said bonds, and authorizing the County Commissioners
to employ certain technical assistants.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Board of County Commissioners of Prince George's County
are hereby authorized to issue general obligation bonds of said County
in an amount not exceeding

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ONE MILLION AND ONE HUNDRED AND FIFTY
THOUSAND DOLLARS ($1,150,000.00), said bonds shall bear
interest at a rate not exceeding three percent (3%), payable semi-
annually; shall mature serially over a period of twenty-five (25) years,
the amounts of maturities to be fixed by said Commissioners, said
bonds shall be the general obligations of Prince George's 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 Board of County Commissioners. The said Board of County
Commissioners shall levy annually, at the time taxes are levied for
general county purposes, a tax upon all the property assessed for
county tax purposes ivithin the said county, in an amount sufficient
to meet the principal and interest of said bonds so long as any of
them shall be outstanding; 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 advertisements in-
serted 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.

SEC. 2. And be it further enacted, That OF the proceeds realized
from the sale of said bonds
NINE HUNDRED THOUSAND DOL-
LARS ($900,000.00) shall be expended for the purpose of making
such additions to the Court House, construction of an Administration
Building or for the acquisition of land upon which said building may
be constructed at Upper Marlboro, provided, however, that any such
addition may be constructed as an integral part of existing buildings
or as independent detached structures built on land already owned by
the County or acquired by it pursuant to the authority hereof, which
may be contiguous to the sites of the existing structures or at some
other location
AND TWO HUNDRED AND FIFTY THOUSAND
DOLLARS ($250,000.00) OF THE PROCEEDS SHALL BE
USED FOR MISCELLANEAUS CONSTRUCTION OF, OR MOD-

37

 

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Session Laws, 1955
Volume 620, Page 1153   View pdf image (33K)
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