clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1962 (Special Session 1), House and Senate Journals
Volume 649, Page 72   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

72 LAWS OF MARYLAND [CH. 25

accordance with the provisions hereof. Said notice shall be pub-
lished at least twice in one or more daily or weekly newspapers
having a general circulation in the County, and may also be pub-
lished in one or more journals having a circulation primarily among
banks and investment bankers. The sale of said bonds shall be
held not sooner than ten (10) days following the first publication
of said notice. Said notice shall offer said bonds to the highest
bidder or bidders therefor and shall state how said highest bidder
or bidders will be determined. Said notice of sale shall specify the
date, place and hour at which bids for said bonds will be received
and opened, and the bonds awarded. It shall also specify that each
bid shall be made in writing by a sealed proposal and shall be
accompanied by a good faith deposit in a fixed or determinable
amount as security for compliance by the bidder with his bid.
Said notice shall refer to this Act as authority for the bonds and
shall state the date of issue of the bonds offered, the total ag-
gregate par amount thereof, the schedule of maturities thereof,
the interest payable thereon, or the method of determining the
same, the purpose to which the proceeds thereof will be devoted,
and the general form thereof, including a statement whether said
bonds will be redeemable, will be in coupon or registered form, and
whether the same will be registerable as to principal, or as to
both principal and interest. Each such notice of sale shall also con-
tain a brief summary of the current financial condition of the
County or shall indicate where such a statement may be obtained
and, finally, shall reserve unto the County the right to reject any
or all bids received. In lieu of publishing said entire notice of sale,
the County may, if it shall so elect in said resolution, publish a
brief summary of said notice which need not contain all the 'in-
formation required for said notice of sale but which shall state
where interested parties may obtain a complete copy thereof.

464D (5) And be it further enacted, That, the money so bor-
rowed for the purpose of the acquisition of land in Prince George's
County, Maryland or interest in land which constitute or will
MAY
constitute that portion of the George Washington Memorial Parkway,
including those lands and park areas shown within the project
taking lines for the said parkway, approved by the National Capital
Planning Commission, extending in Prince George's County from
Fort Washington to the southeasterly boundary line of the Dis-
trict of Columbia, shall be used exclusively and solely for such
enumerated purposes.

464D (6) And be it further enacted, That, the bonds hereby
authorized shall constitute, and they shall so recite, an irrevocable
pledge of the full faith and credit and unlimited taxing power of
the County to the payment of the maturing principal and interest
of such bonds as and when the same respectively mature. In each
and every fiscal year that any of said bonds are outstanding, the
County shall levy or cause to be levied ad valorem taxes upon all
the assessable property within the corporate limits of the County
in rate and amount sufficient to provide for the payment, when
due, of the interest and principal of all said bonds maturing in each
such fiscal year and in the event the proceeds from the taxes so
levied in any such fiscal year shall prove inadequate for the above
purposes, additional taxes shall be levied in the succeeding fiscal
year to make up any such deficiency. The County may apply to



 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1962 (Special Session 1), House and Senate Journals
Volume 649, Page 72   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 11, 2023
Maryland State Archives