The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1872-05-11
Public Local Lars.
PUBLIC LOCAL LAW.
ENACTED JANUARY SESSION, 1872.
PUBLISHED BY AUTHORITY.

CHAPTER 1858.
AN ACT to provide for the distribution and
investment of the proceeds of sale of the
"Alms House Property" of Baltimore coun-
ty and of securities held by and belonging
to said county.
SECTION l. Be it enacted by the General As
sembly of Maryland, That the County Com
missioners of Baltimore county be and they
are hereby authorized and directed to appro-
pirate out of the proceeds of the sale of the real
estate belonging to said county and known as
the "Alms House Property" now or hereafter
to come into their hands, the sum Of sixty
thousand dollars or so much thereof as may be
necessary to the construction and furnishing OF
a new "Alms House" for said county, and in
case there shall be any unexpended balance of
said sum of sixty thousand dollars to apply the
same as hereinafter directed, in payment of
the outstanding Indebtedness of said county.
SECTION 2. And be it enacted that the residue
OF the proceeds of sale of said property, so
much thereof as may be necessary shall be ap-
piled by said County Commissioners as to the
cash, in hand, Immediately upon the passage
of this Bill, and as to the credit portion of said
proceeds, Immediately upon the payment
thereof to the liquidation in the order of their
numbers of such bonds of said county as shall
be due and payable and in default of such
overdue bonds to the payment of such other
bonds of said county not yet matured,
as the holders thereof may be willing to re-
ceive payment of and all such bonds whether
paid before or after maturity shall be cancelled
by said County Commissioners Immediately
upon their surrender in the presence of the
Judges of the Orphans Court Of said county, of
which said bonds and their cancellation full
record as to dates, numbers and amounts shall
be made and preserved by said Commissioners.
SECTION 3. And be it enacted, That the said
County Commissioners of Baltimore county,
are hereby authorized and required whenever
they have funds for this purpose, to give no
tice by advertisement published in each news
Nc 49, -
and such other notice as they snail tninA
proper, of the number beginning at number
one) denomination and amount of matured
ponds, to be redeemed so that the holders
thereof may be able to identify them, and also
that the interest will cease on said matured
bonds advertised for redemption after the ex-
piration of sixty days after the first publica-
ton of said notice, the date of which first puhli-
cation shall be made to appear in the body of
said notice. And in case the matured bonds Of
said county are insufficient to absorb the money
in hand or in case there be no matured Lruds
of said county, then the said County Comnis
siOners shall be and are hereby required to give
sixty days notice by advertisement, in like
manner of the amount of money in their hands
for this purpose, and that they will redeem to
that extent any outstanding obligations of said
county, and if no application in sufficient
amount be made according to the exgency of
said notice sufficient in amount to absorb the
amount of money in hand, then the said County
Commissioners after the lapse of sixty days as
aforesaid, shall proceed to invest on the most
favorable terms possible the amount of money
remaining in their hands, in securities of the
city of Baltimore or State of Maryland, to an
extent sufficient to cover all the outstanding
Indebtedness of said Baltimore county, and to
hold the same for the purpose of meeting said
obligations at maturity or upon surrender of
the same, and the income or interest of said
investment or investments shall be applied in
the meantime by said County Commissioners
to the reduction Of the current or succeeding
levy as the case may require, and the said
County Commissioners shall proceed in like
manner with all succeeding sums coming into
their hands from the soUrces hereinbefore men,
toned, until the entire outstanding debt of said
county shall be provided for.
SECTION 4. And be it enacted, That the said
County Commissioners be, and they are hereby
authorized and required to exchange, whenever
it can be done without loss to the county, any
and all securities belonging to or held by Balti-
more county or by the said County Commits
sioners for the bonded debt of said county,
and as soon as received to cancel such bonds
as is directed in section two of this Act.
SECTION 5. And be itenacted, That the whole
balance remaining in the hands of said County
Commissioners after complying with the rrovi-
sions of the aforegoing sections, shall be in
vested in securities of said city or State, the
interest arising therefrom to be annually APP
piled to the reduction of tho taxes ofsaid Bati-
more county, to be assessed for the next and
each succeeding year as far as the same will
suffice.
SECTION 6. And be it enacted, That all Laws
or parts of Laws repugnant to or inconsistent
with the provisions of this Act be, and the same
are hereby repealed.
SECTION 7. And be it enacted, That this Act
shall take effect from the date of its passage.
Approved April LIST, 1872.
VIM. PINKNEY WHITE,
Governor.
We hereby certify that the aforegoing is a
true copy of an act which passed the General
Assembly of Maryland, at the January Session,
1872.
AUGUSTUS GASSAWAY.
Secretary Senate.
MILTON Y. KIDD,
Chief Clerk of House of Delegates.
DANIEL J. McCAULEY,
BENZ. F. JORDAN,
EDWARD RIDER,
Co. Commissioners for BALTIC. County.
May At.