240 LAWS OF MARYLAND [CH. 124
authorize and empower the County Commissioners of Allegany
County to provide said contribution by borrowing upon the full
faith and credit of said County, not exceeding the sum of Seven
Hundred and Fifty Thousand Dollars ($750,000.00), and to issue
coupon bonds therefor for the aforesaid purpose; to provide for
an annual levy upon the assessable property of Allegany County
by the County Commissioners for the purpose of paying the interest
of said bonds and the principal thereof at maturity.
Whereas, inadequate and overcrowded hospital facilities now exist-
ing in Allegany County are a menace to the public health and welfare;
and
Whereas, it is believed that certain additional facilities are neces-
sary to be provided at the Memorial Hospital in the City of Cumber-
land in order that its operating efficiency and community service
and benefits may be increased, and that the County Commissioners of
Allegany County, along with other public agencies, should contribute
to the cost therefor; now therefore
Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Allegany County, a body corpor-
ate, in order to provide funds for the improvement, renovation and
construction of alterations and improvements to the Memorial Hos-
pital in the City of Cumberland, in order that its operating efficiency
and community service and benefits may be increased, are hereby
authorized and empowered at any time hereafter to raise, contribute
and deliver to the Board of Governors of the Memorial Hospital of
Cumberland, Maryland, a body politic and corporate, an amount not
exceeding the sum of Seven Hundred and Fifty Thousand Dollars
($750,000.00), to be used and applied by said corporation exclusively
for the purpose of defraying in part the cost of financing of altera-
tions and improvements to said Hospital.
Sec. 2. And be it further enacted, That for the purpose of raising
said sum of Seven Hundred and Fifty Thousand Dollars ($750,-
000.00), or so much thereof as the County Commissioners of Alle-
gany County shall deem necessary, to be paid to the Board of Gover-
nors of the Memorial Hospital of Cumberland for the purpose set
forth in Section 1 of this Act, the County Commissioners of Allegany
County are hereby authorized at any time hereafter to borrow money
upon the full faith and credit of Allegany County to an amount not
exceeding Seven Hundred and Fifty Thousand Dollars ($750,000.00)
and to issue and sell coupon bonds therefor not in excess of said
principal sum.
That such bonds shall be designated and known as Memorial Hos-
pital Improvement Bonds, and when issued shall be signed by the
President of the County Commissioners of Allegany County, duly
attested by the Clerk of the County Commissioners, and the corporate
seal of the County Commissioners shall be attached thereto. The
interest coupons attached to each of said bonds shall bear the fac-
simile signature of the President of the County Commissioners of
Allegany County, printed, lithographed or engraved thereon.
That the Board of County Commissioners of Allegany County be-
fore the issuance of said bonds shall by formal resolution prescribe
|
|