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Session Laws, 1969
Volume 692, Page 187   View pdf image
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MARVIN MANDEL, Governor                          187

permit any resident of the county to appear and testify concerning
the proposed issuance of the bonds. The notice shall also state the
time and place of the meeting.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved March 24, 1969.

CHAPTER 57
(House Bill 775)

AN ACT to repeal and re-enact, with amendments, Section 2 of
Chapter 619 of the Acts of 1967, being the Construction Loan
providing for the issuance of bonds for the construction of a
Community College in Garrett County, to provide for the increase
in the allowable rate of interest chargeable on any bonds issued.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 2 of Chapter 619 of the Acts of 1967 be and it is hereby
repealed and re-enacted, with amendments, to read as follows:

Sec. 2. And be it further enacted, That said County Commissioners
shall by proper resolution fix the maturity or maturities of any such
bonds, provided, however, that no bonds so issued shall mature later
than twenty years from the date of their issue, and provided further
that any such bonds shall be issued on the serial maturity plan; such
resolution may fix the denomination or denominations in which said
bonds shall be issued, the interest rate or rates of said bonds or the
manner of determining the same, provided the rate or rates of
interest shall not exceed [five per centum (5%)] six per centum
(6%)
per annum, the manner and place of payment, the date, place
and terms of the sale of the bonds, and all details not herein other-
wise provided for with respect to the form, issuance and sale thereof;
said bonds shall be signed by the President of the County Commis-
sioners and by the Treasurer of Garrett County, and the seal of said
County shall be affixed thereto. Said bonds may be made registrable
as to principal.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved March 24, 1969.

CHAPTER 58
(House Bill 784)

AN ACT to add new Section 7A to the Code of Public Local Laws of
Somerset County (1963 Edition, being Article 20 of the Code of
Public Local Laws of Maryland), title "Somerset County," sub-

 

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Session Laws, 1969
Volume 692, Page 187 &nb