Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1916-05-19

DERWOOD ROAD.
Chapter AIS.

Assembly of Maryland, That the County |
Commissioners Of Montgomery county be
and they are hereby authorized and d. |
rected to issue bonds to the amount Of |
thirty thousand dollars. or so much there
Of as may be necessary. for the purpose
of building, improving and relocating the
public road in said county leading from
the end of an improved road to Crabb's
Branch near DerwOod toward the end Of
another improved road at Richard Mack
all's corner near Mt. Zion. running through
the first, fourth. eighth and ninth cleo.
tion districts of said county. and to levy
and collect taxes in the first, fourth,
eighth and ninth districts of said county
for the payment Of said bonds and inter
est coupons as hereinafter stated. the
money arising from the sale of said bonds
to be used for the building. improvement
and relocation of said road provided
there shall be paid or secured to be paid
to said County Commissioners the sum Of
10000 by those interested in said road be-
fore said bonds shall be issued.
Sec. 2. And be 1t further enacted, That
the County Commissioners for Mont
gomery county be and they are hereby
directed to borrow on the credit Of the
said county a sum not to exceed Thirty
Thousand Dollars for the purpose of
building, improving and relocating the
public road leading from the end of an
improved road at Crabb's Branch near
Derwood toward the end of another i'm
proved road at Richard Mackalls corner
near Mt. Zion, as herein provided; and the
said County Commissioners shall issue
coupon bonds under the corporate seal Of
said Commissioners for the amount
borrowed under the provisions of this
Act, the said bonds to be signed by the
President of the said County Com
missioners of Montgomery county and
countersigned by the Clerk thereof, in
sums not less than One Hundred Dollars
nor more than Five Hundred Dollars: the
said bonds to bear interest from the date
of the issuance thereof at the rate not to
exceed five per centum per annum.
payable semi-annually, and interest to
the maturity of each Of said bonds
shall be provided for and set forth
in the coupons attached to each of said
bonds, respectively. for the interest due
and payable thereon, and each of said
bonds shall have printed on it a dis
tinct reference to this Act authorizing
the issue.
Sec. 3. And be it further enacted. That
all bonds issued under the provisions of
this Act shall be redeemable as follows.
that is to say. in not less than One
Thousand Dollars thereof in one year
from the date Of their issue. and there
after annually not less than One Thousand
Dollars ca C h n every year until
the whole amount of said bonds
and coupons shall have been fully paid
and to this end the said County, Commission
ers shall issue the said bonds in series,
redeemable in their proper order; and the
said bonds shall be sold after due adver-
t Sc m emit at public sale in the
discretion of said County Commits
sioners Of Montgomery county; provided.
however, that none of said bonds shall be !
sold for less than par.
Sec. 4. And be ii further enacted, That |
the sid County Commissioners for
Montgomery county shall cause to be |
levied and collected from the taxable |
property of the first. fourth. eighth and ninth |
election districts Of said county an addi-
tional Or special tax. annually. sufficient
to pay the said bonds and interest as the
said bonds and interest or coupons
may severally mature; said levy and col
lection Of taxes shall be made on the
several election districts mentioned above
in equal proportions. that Is to say, one
fourth OF the amount so levied upon the
assessable property within each Of the
said four election districts. And the
said special tax shall be collected as
other taxes levied in said county are col
lected. and when collected shall be ap-
piled. as hereinbefore provided. to the pay
ment of the said bonds as they severally
mature and the interest thereon. semi
annually. which bonds and coupons, when
issued, shall be non-convertible for any
cause whatsoever; and the said bonds
and coupons so issued. when redeemed,
whether before or at maturity, shall be
cancelled. and 1t shall be the duty Of the
County Commissioners Of Montgomery
county to Immediately cancel the same.
Sec. S. And be it further enacted, That
the said County Commissioners Of Mont
eomery county be and they are hereby
authorized. empowered and directed to
apply the proceeds Of the bond issue. |
herein authorized. to the payment for
the building. improvement and relocation
of the public road leading from the end |
Of an improved road at Crabb's Branch |
near Derwood toward the end Of another
improved road at Richard Mackall's cor
ner near Mt. Zion; the building, improve
ment and relocation authorized under the
visions Of this Act to consist Of the grad
ing Of said road. the placing OF bridges
and culverts, and the construction thereon
of macadam road similar in construc-
ton to the road leading from Norbeck to
Rockville in said county. according to
plans and specifications prepared by the !
Road Superintendent Of MONTGOMERY