HARRY HUGHES, Governor

807

Board of County Commissioners of Somerset County to
levy taxes on the assessable property in the County to
provide funds for the payment of interest and principal
as the same become payable.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Somerset County
be and they are authorized and empowered to borrow at one
time or from time to time, upon the full faith and credit of
Somerset County, and to issue and sell at one time or from
time to time its bonds therefor, a sum or sums of money not
to exceed $1,000,000 at a net average interest rate not in
excess of 6 percent per annum for the bonds issued and sold
at any one time $1,500,000 for the purposes of constructing
and equipping a county jail in Somerset County, including as
to each architects and other professional fees in connection
therewith. The money raised by the bond issue authorized by
this Act shall be expended for the above purposes and shall
be allotted among such purposes as the County Commissioners
of Somerset County may provide. Such bonds shall be
designated, shall be of such denomination or denominations
and of such type or form, and shall be of such periods of
maturity, not exceeding 25 years, all as the County
Commissioners of Somerset County may by resolution provide,
provided, however, that the first maturity shall be within
five years of the date of such bonds, and the proceeds of
such sale or sales shall be spent in accordance with the
provisions hereof. The borrowing and every bond, coupon or
other evidence thereof, and the interest payable thereon,
shall be and remain exempt from taxation by the State of
Maryland and by the counties and municipalities of the
State.

SECTION 2. AND BE IT FURTHER ENACTED, That the bonds
shall be signed by the President of said County
Commissioners of Somerset County and the Treasurer of
Somerset County, with the seal of Somerset County or a
facsimile thereof affixed thereto. The bonds shall be
payable at such place and on such date or dates as the
County Commissioners shall by resolution provide. The bonds
shall bear interest at a net average rate not in excess of 6
percent per annum for the entire issue, as shall be rate or
rates as provided by resolution of the County Commissioners,
and installments of interest may be evidenced by semiannual
coupons attached to the bonds bearing the facsimile
signature of the Treasurer of Somerset County. If such
bonds are issued, such issue and sale shall be in accordance
with the provisions of Sections 19 to 23, inclusive, of
Article 31 of the Annotated Code of Maryland (1976
Replacement Volume and 1979 Supplement, as amended from time
to time).

SECTION 3. AND BE IT FURTHER ENACTED, That for the
purpose of paying the interest on the bonds, and for