The citizen. (Frederick City, Md.) 1895-1923, 1900-05-04
PUBLIC LOCAL LAWS.
CHAPTER 4s3.

vi Al / En- fCo.
AN ACT to authorize and empower the
County Commissioners of Frederick
county to issue bonds bearing interest
at a rate not to exceed three and one
half per centum per annum TO obtain
money to redeem the sixty-five thou
sand dollars of bonds, bearing interest at
four per centum per annum issued by
said County Commissioners under the
Act of the General Assembly of Mary
land, passed at the session of Eighteen
Hundred and Eighty-lour, Chapter four
hundred and ninety-iour, and, also, to
redeem the one hundred and twenty-three
thousand and seven hundred dollars of
bonds, bearing interest at four per centum
per annum issued by said County Com
missioners under the Act of the General
Assembly of Maryland passed at the
session of Eighteen Hundred and Eighty
six, Chapter two hundred and Thirty
nine, both of which issues of bonds are
now redeemable and may he paid by
said County Commissioners, and TO au-
thOrize and empower the said County
Commissioners to levy and collect the
necessary taxes for the payment of the
bonds hereby authorized to be issued and
the interest thereon.
Section |. Be it enacted by the General
Assembly of Maryland, That the County
Commissioners OF Frederick county, be.
and they are hereby authorized and en-
powered to issue bonds of Frederick
county, to an amount not to exceed in the
aggregate one hundred and lightweight
thousand and seven hundred dollars. in
sums of not less than one hundred dollars
nor more than one thousand dollars. each
to be signed by the President of the said
Board OF County Commissioners. and
cOunterslgned by the Clerk thereof, said
bonds to he coupon bonds, and to bear inter-
est at rate not to exceed three and one
half per centum per annum, payable semi
annually, on the first day Of January and
July in each year, and the coupons on said
bonds, when due, and payable shall be re-
ceived by the County Treasurer for said
Section ,. And be it enacted. That said
bonds shall be payable forty years after
date to bearer, redeemabe. however. at
the pleasure of said County Commissioners
any time after the expiration of twenty
years from their respective dates
Section s. And be it enacted, That the
said County Commissioners be. and they
are hereby authorized and empowered to
sell said bonds at public sale to the high
est bidders, after having given at least
four weeks public prior notice by adyer-
tisement i'll such newspapers published in
the State of Maryland as the said County
Commissioners may select at least two of
which newspapers shall be printed and
published III Frederick county, and such
other notice as the said Commissioners NAV
think proper, or said Commissioners NAV,
If they believe the interest of said county
will be the best subserved thereby, sell said
bonds by bid upon sealed proposals after
having given notice prescribed above for
public sale provided, however that said
bonds shall not be sold except ior cash; and
it is hereby further expressly provided that
none of said bonds shall be sold at less than
their par value.
Section 4. And be it further enacted,
That said bonds shall be exempt from all
county and municipal taxation, and that the
money arising from the sale OF the bonds
authorized hereby to be issued, as aforesaid
shall be applied exclusively to the payment
OF the present outstanding four per centum
bonds issued under the Act of the General
Assembly of Maryland at the session
Hundred and Eighty-four, Chapter
four hundred and ninety -four to the extent
OF sixty-tive thousand dollars, and to the
present outstanding four per cent. bonds
issued under the Act of the General Assem-
bly, of Maryland, passed at the session
eighteen hundred and eighty-six, Chapter
two hundred and thirty-nine to the extent
OF one hundred and twenty thousand
and seven hundred dollars, now redeemable
and payable by said Frederick county.
Section s. And be it further enacted,
That the said County Commissioners shall
in each and every year, levy upon the as
sessable property in Frederick county such
sum of money as may be necessary to pay
the interest on the bonds issued in pursu-
ance Of this Act as the same shall fall due;
and also after the expiration of twenty
years from date Of said bonds such further
and additional sums as may be required to
gradually retire and redeem said bonds
until all of them shall have been redeemed;
and said tax authorized under this Act
shall be collected as other taxes are collected
in said county and shall be applied to no
other use or purpose whatever.
Section g. And be it further enacted,
That this Act shall take effect from the
date of its passage.
Approved April 9TH, 1900.