The midland journal. (Rising Sun, Md.) 1885-1947, 1933-06-30
PUBLIC GENERAL LAWS

special district and/or political subdivision of
this State, provided, however, that the aggregate
principal amount of such sums so borrowed and
outstanding and unpaid at any one time shall
not exceed the amount of funds of such county,
municipal or public corporation. special district
and/or political Subdivision impounded in de-
positores located in this State plS uncoected
taxes levied on or after january /, 1882.
SEC 2. AHd be it further enacted. That each
sN.h county, municipal or public corporation,
special district and/o political subdivision of
this State, except the Mayor and City Council
of Baltimore, be and it is hereby authorized
and empowered to issue its notes for the sums
so borrowed under the provisions of this Act
at any time and from time to time in such form
as may be determined by each such respective
county, municipal or public corporation, special
district and/or political subdivision of this State,
to be issued and sold in such manner either at
public sale or by private negotiation and to bear
such rate of interest ard to be in such form and
payable at such time times, not exceeding
twelve months from the date of this issue, and
not later than June l, 1855. as such issuing
county. municipal subdivision may determine. it
being the entent of this Act to authorize and
empower each and every such county municipal
or public corporation, special district and/cr
political subdivision of this State to borrow
upon its own faith and credit such sums as may
be necessary to meet such of its current oblga-
tons as may become due and payable on or alter
January /, 1888, and until June l, 1885, for
which funds may not otherwise be available, to
the end that no such county. municipal or public
COrDOratOn, special QlStrlCL a1u/Or DOlftlCat SUD-
division of this State shall be without funds to
carry on its corporate functions.
SEC. 3. lind be % further enacted. That
such notes may be issued under the provisions
of this Act shall be and remain the obligations
Of the issuing county, municipal or public cor
poration, special district and/or political sub
division of this State, as the case may be, issued
upon its full faith and credit and that the entire
property subject to taxation by such issuing
county, municipal or public corporation, special
district and/or POLITICAL subdivision of this
State shall be liable for the payment thereof and
that each and every such county, municipal or
public corporation, special district and/or poll
tical subdivision of this State so issuing any
such notes under the provisions of this Act shalt
levy a tax upon all property subject to assess
ment by it, sufficient to provide funds for the
payment of said Indebtedness so evidenced by
its notes interest under the provisions of this
Act, together with the interest thereon, before
the maturity of all such notes not later than
June !, 1885, provided, however. that in the
event it be necessary to provide funds for the
payment Of such notes so issued under the pro-
visions Of this Act by any such general levy
that nothing herein contained shall be con-
strued as in any manner to alter amend any
law providing for the payment Of obligations of
any such county, municipal public corpora.
ton, special district and/or political sub-div
sion of this State becoming due and payable be-
fore June /, 1885, by taxation otherwise, pro-
vision for the payment of which by borrowed
money is temporarily made under this Act; and
provided further that the proceeds of any gen.
erai or special levy imposed by law TOT the
purpose of providing funds for the payment of
any such obligations may, upon the receipt there.
of, be applied to the payment of notes issued
under the provisions of this Act, in the event
the same become available after such notes
paid, then to the general funds of such county,
municipal public corporation. special district
and/or political Subdivision of this State so
issuing such notes under the provisions of this
Act.
Sec. 4. And be it further enacted. That moth
ing in this Act contained shall be construed to
repeal or in any manner to modify any statute
of this State heretofore enacted authorizing any
designated county, municipal or public corpora
ton, special district and/or political subdivision
of this State to provide in any manner whatso-
ever for the payment Of any of its obligations
they mature, but the same shall be and remain
in full force and effect.
SEC. S. And be it further enacted, That the
powers granted by the terms of this Act shall
cease and terminate from and after June !,
1885.
SEC. s. lind be it further enacted, That this
Act is hereby declared to be an emergency law
and necessary for the immediate preservation of
the public health and safety and, having been
passed by a yea and nay vote supported by
three-ffths Of all the members elected to each
of the two Houses of the General Assembly, the
shall take effect from the date Of its passage
Approved March 81, 1888.