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Session Laws, 1972
Volume 708, Page 1847   View pdf image
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Marvin Mandel, Governor                       1847

hands. The right of the County Commissioners to appoint one of
its members to the Board of Directors of the Hospital shall continue
for as long as any bonds of this issue shall be outstanding.

Sec. 5. And be it further enacted, That for the purpose of pay-
ing the maturing principal of and interest on any bonds issued
pursuant to the authority of this Act, and for the purpose of re-
deeming said bonds prior to their respective maturities, the County
Commissioners of Cecil County shall levy annually upon all prop-
erty within the corporate limits of said County, assessable for un-
limited taxation, ad valorem taxes in rate and amount sufficient
to provide for said purposes. In the event any such issue of bonds
are sold as term bonds, payable all at one time, said County Com-
missioners of Cecil County shall, by the resolution authorizing said
bonds, establish a sinking fund in the custody and control of the
County Treasurer, and thereafter said County Commissioners shall
annually levy the ad valorem taxes above prescribed in rate and
amount sufficient to pay the interest on said bonds, due in each
year, and sufficient to pay into such sinking fund or increments
thereon, will be sufficient to provide for the payment in full of
the principal of said term bonds at maturity.

Sec. 6. And be it further enacted, That this Act shall take effect
July 1, 1972.

Approved May 31, 1972.

CHAPTER 734
(House Bill 1519)

AN ACT to repeal and re-enact, with amendments, Section 195(2)
of Article 77 of the Annotated Code of Maryland (1969 Replace-
ment Volume), title "Public Education," subtitle "Teachers' Re-
tirement System," and to repeal and re-enact, with amendments,
Section 11(3) of Article 73B of the same Code (1970 Replacement
Volume), title "Pensions," subtitle "In General," to reduce the
service credit requirements for teachers and State employees for
eligibility for full benefits in the retirement system for 35 years'

TAIN CIRCUMSTANCES.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 195(2) if Article 77 of the Annotated Code of Mary-
land (1969 Replacement Volume), title "Public Education," subtitle
"Teachers' Retirement System," be and it is hereby repealed and
re-enacted, with amendments and that Section 11(3) of Article 73B
of the same Code (1970 Replacement Volume), title "Pensions,"
subtitle "In General," be and it is hereby repealed and re-enacted,
with amendments, and all to read as follows:

195.

(2) Allowance for service retirement.—Upon retirement for
service a member shall receive a service retirement allowance which
shall consist of:

 

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Session Laws, 1972
Volume 708, Page 1847   View pdf image
 Jump to  
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