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Ch. 278
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1954
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LAWS OF MARYLAND
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Caroline County for the payment of principal and
interest on such bonds and making this Act effective
as an Emergency Act.
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Caroline
County are authorized and empowered to borrow at one
time, or from time to time, on the full faith and credit
of the County Commissioners of Caroline County, a sum or
sums not exceeding in the aggregate Two Hundred and Fifty
Thousand Dollars ($250,000), and to issue and sell bonds
therefor, the proceeds thereof to be used for the
planning, constructing and equipping of an addition to
the Caroline County Nursing Home owned by Caroline County
and to pay all expenses, including advertising, printing,
and legal fees, incurred in the issuance and sale of any
bonds hereunder.
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SECTION 2. AND BE IT FURTHER ENACTED, That the
County Commissioners of Caroline County shall by proper
resolution fix the maturity or maturities of any such
bonds, provided, however, that no bonds so issued shall
mature later than forty years from the date of their
issue, and provided further that any such bonds shall be
issued on the serial maturity plan except that the first
principal maturity need not be less than two years from
the date of issue. 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, the manner and place
of payment, the date, place and terms of the sale of the
bonds, and all details not herein otherwise provided for
with respect to the form, issuance and sale thereof.
Such bonds shall be signed by the President of the Board
of County Commissioners of Caroline County and by the
Treasurer of the County Commissioners of Caroline County,
the signature of either of whom may be by facsimile, and
the seal of the County Commissioners of Caroline County
or a facsimile thereof shall be affixed thereto. Such
bonds may be in fully registered form or in coupon form,
and the coupons may be authenticated by the facsimile
signature of the President of the Board of County
Commissioners of Caroline County. In the event that the
President shall be unable to sign such bonds, the County
Commissioners of Caroline County may by resolution
authorize and direct one of its members to sign in place
of the President. In the event that the Treasurer is
unable to sign such bonds, the County Commissioners of
Caroline County may by resolution authorize and direct
one of its members or another officer of the County
Commissioners of Caroline County to sign in place of the
Treasurer, but no person may sign in more than one
capacity. In the event that any officer whose signature
shall appear on the bonds shall cease to be such officer
before the delivery of the bonds, such signature shall
nevertheless be valid and sufficient for all purposes,
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