The midland journal. (Rising Sun, Md.) 1885-1947, 1933-06-30
PUBLIC GENERAL LAWS
CHAPTER No. 1873
A RILI ENTITLED

u .
AN ACT % authorize and empower every coun-
ty, municipal or public corporation, special
district and/of political subdivision OF the
State Of Maryland, except the Mayor and City
Council Of Baltimore, which has heretofore
been authorized by any law or laws of this
State to incur any Indebtedness redeenable
from the proceeds of any general or special
tax or other levy and which said indebtedness
is evidenced by notes or coupon bonds natur-
int before June !, 1885, to borrow upon its
faith and credit sums to pay said indebtedness
and TO issue and sell short term notes therefor
and providing for the payment of said notes
and the interest thereon out of its general
funds by general tax levy on all taxable
property within its corporate limits.
WHEREAS, Certain of the various counties
municipal or public corporations special districts
and/or political subdivisions of this State have
outstanding obligations evidenced by coupon
bonds notes due to mature before June ],
1855; and
WHEREAS, 1t may be desirable to refund the
amount Of such maturing coupon bonds or notes
and the interest thereon temporarily through the
issue ard sale of other notes, therefore:
SEcrIoN /. Be it enacted by the General
Assembly Of Maryland, That each county in the
State of MARYLAND and each and every other
andLor political subdivision of this State, except
the Mayor and City Council of Baltimore. he
and they hereby are authorized and empowered
to borrow on the faith and credit of said county
or upon the faith and credit of such municipal
or public corporation, special district and/or
political subdivision of this State, as the case
may be, such sum or sums at any time and from
time. to time not later than June /, 1885, but
not exceeding in the aggregate the amount of
the obligations. including the accrued interest
thereon, evidenced by coupon bonds or notes of
such county. municipal or public corporation,
special district and/or political subdivision of
this State, as the case may be, as they may deem
necessary to provide money for the payment or
refundng from time to time of all such obliga-
tons so evidenced by coupon bonds notes
may mature after March /, 1888, until
June /, 1885.
SEC 2. Ind be it further enacted. That each
such county, municipal public corporation,
special district and/or 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 respective county, muni
cipal or public corporation special district and/or
political subdivision of this State, to be issued
and sold in such manner either at public sale
by private negotiation and to bear such rate OF
interest and to be in such form and payable at
such time or times not later than June l, 1885,
as such issuing county, municipal or public cor
porat;on, special district and/or political sub
division may determine, it being the intent of
this Act to authorize and empower each and
every such county, municipal or public corpora
tion, special district and/or political subdivision
of this State to borrow upon its own faith and
credit such sums as may be necessary to meet
such of its obligations, including the accrued
interest thereon evidenced by coupon bonds or
notes maturing on or after March list, 1888,
until June LIST, 1885, for which funds may not
otherwise be available, to the end that no default
occur in connection with any such obligations so
evidenced by any such coupon bonds or notes
maturing during said period.
\ SEC. ;. AHd be st further enacted, That such
notes as may be issued under the tprovisions Of
this Act shall be and remain the obligations of
the issuing county, municipal or public corpora
d/nr
of this State, as the may be, issued upon its
full faith and credit and that the entire property
subject to taxation by such issuing county, muni-
cipa or public corporation, special district andsor
political subdivision of this State, the
may be, issued upon its full faith and credit and
that the entire property subject to taxation by
ration, special district and or political sub-divi-
sion 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 political subdivision of this State to issu-
ing any such notes under the provisions of this
Act shall levy tax upon all property subject to
assessment by it, sufficient to provide funds for
the payment of said Indebtedness so evidenced by
its notes issued under the provisions of this Act,
together with the interest thereon, before the
maturity of all such notes not later than June 1,
1885, provided, however, that in the event it be
necessary TO provide funds for the payment of
such notes so issued under the provisions of
this Act by and such general levy that nothing
herein contained shall be construed as in any
manner to alter or amend any law providing for
the payment of obligations of any such county,
municipal or public corporation, special district
andIoT political subdivision of this State mattr-
ing before June l.. 1885, by taxation or other
wise, provision for the payment of which by bor-
rowed money is temporarily made under this
Act and provided further that the proceeds of
any general or special levy imposed by law for
the purpose of providing funds for the payment
bonds or notes, upon the receipt thereof, be ap:
piled to the payment of notes issued under the
provisions of this Act. or in the event the same
become available after such notes are paid, then
to the general funds of such county, municipal
or public corporation, special district andIor
political subdivision of this State so issuing
such notes under the provisions of this Act.
Sec. 4. A.td be II 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 refund or otherwise provide in
any matIner whatsoever for the payment of any
of its obligations as they mature, but tn, same
shall be and remain in full force and effect.
Sec. S. And be it further enacted. That moth
ing in this Act shall be taken or construed to be
in derogation of the limitation imposed upon the
borrowing powers of the counties, municipal or
public corporations. special districts and/or poll
tcal subdivisions of this State by Article-IIl,
Section 81 of the Constitution of Maryland, and
it is hereby declared to be the legislative intent
that this Act shall apply to the payment and re.
funding of all other obligations evidenced by
coupon bonds or notes, if the issuance of notes
for the purpose of paying refunding any
particular obligations or class of obligations
should be declared invalid under the provisions
of Article III. Section So of the Constitution.
Sec. 6. And 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 yea and nay vote supported by
three-ffths of all the members elected to each
of the two Houses of the General Assembly,
the same shall take effect from the date of its
passage.
Approved March 81, 1858.