1422 Laws of Maryland [Ch. 780
of the taxes so authorized herein, the Commission may advance the
interest due at said first or second interest paying period out of the
proceeds of the sale of said bonds. Said bonds shall be forever exempt
from taxation by the State of Maryland and by the Counties and
municipalities in said State. The proceeds of any bonds issued under
the authority of this Act shall be expended as follows: Sixty per
centum (60%) thereof shall be expended within the limits of Mont-
gomery County and forty per centum (40%) thereof shall be ex-
pended within the limits of Prince George's County. THE COM-
MISSION SHALL ISSUE, IN ACCORDANCE WITH THE PRO-
VISIONS ABOVE, BONDS TO THE EXTENT OF AN AGGRE-
GATE OF $1,200,000.00 FOR MONTGOMERY COUNTY AND
BONDS TO THE EXTENT OF AN AGGREGATE OF $800,000.00
FOR PRINCE GEORGE'S COUNTY; SUCH BONDS TO BE IS-
SUED TO THE EXTENT AFORESAID, FOR EITHER OF SAID
COUNTIES, FROM TIME TO TIME, THE FUNDS RECEIVED
FROM THE SALE THEREOF TO BE EXPENDED IN THE
COUNTY FOR WHICH SUCH BONDS ARE ISSUED AND TO BE
CHARGED AGAINST SUCH COUNTY AND TO BE PAID FROM
THE TAX TO BE LEVIED AS PROVIDED ABOVE; AND, THE
COMMISSION SHALL ISSUE SUCH BONDS, WHEN REQUIRED
FOR THE PURPOSES AFORESAID FOR EITHER OF SAID
COUNTIES, NOT EXCEEDING THE AMOUNT SPECIFIED
ABOVE FOR SUCH COUNTY, REGARDLESS OF THE NECES-
SITY FOR ISSUE OF SUCH BONDS, OR ANY PART THEREOF,
FOR THE OTHER OF SAID COUNTIES. NOTWITHSTANDING
THE ABOVE PROVISION BOTH COUNTIES SHALL GUARAN-
TEE ANY BONDS ISSUED UNDER THIS ACT.
Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1957.
Approved April 15, 1957.
CHAPTER 780
(House Bill 539)
AN ACT to repeal Sections 15, 165, 166, 686, 687, 695, 695A, 695B,
807, 808, 533A and 533B of Article 22 of the Code of Public Local
Laws of Maryland (1930 Edition), title "Washington County",
sub-titles respectively, "Almshouse", "Library", "Museum of Arts",
"Public Health Association", "Washington County Hospital Asso-
ciation" and "Infant and Child Health", said sections having been
last amended or enacted respectively, by Chapter 653 of the Acts
of 1943, by Chapter 396 of 1955, by Chapter 503 of 1943, Chapter
117 of 1939, by Chapter 71 of 1937 and by Chapter 395 of 1937;
and to repeal Chapter 685 of the Laws of 1955; and to add new Sec-
tions 166B to 166-I, inclusive, to said Article of said Code, said
new sections to follow immediately after Section 166A thereof.
Explanation: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.
|
|