Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1956-06-14

paayble at such time denoir
atoms be either coupon registered carry
registration conversion reconveron privileges
such officers such payable medium
payment at such place places within without
Maryland and be subject to such terms redemption option
of the County with without premium may by
the County Council authorizing
prior to their issuance
of each such series shall mature in such
number of consecutive exceeding thirty
1907 and beginning
may determined by the resolution or resolutions of the
County Council authorizing such bonds
ments shall be than fifty per 5000 other
sament None of such bonds shall hear interest At rate
rates higher than five per centum $50 per
Sec Such bonds shall not be subject provisions
Sections 49, 80 and "a of Article 81 of the
land 951 Edition. County
deliver and sell said bonds public sale
such price or prices may by resolution determine provided
that sale shall be for price prices
of said bonds and accrued interest thereon.
Sec g. All such bonds upon full faith and
credit of the County which hereby pledged to the
ment OF the principal thereof and interest thereon
be payable primarily from the other
the Wheaton Parking Lot District Title Chapter
Section paragraph (c), entitled Wheaton Parking Lot District
the Montgomery County Code 1885, amended
but if such other purpose
such bonds shall be payable from unlimited ad vaoe
all assesabe property within County,
resolutions of the County Council authorizing
indebtedness shall SO provide In each
and fiscal year that
ing the County and the County Council levy
the special taxes authorized bv said CHAPTER 4 in an amount
amounts sufficient to provide for the
interest and principal of all becoming
and if the amount of estimated receipts special
such interest and principal shall be insufficient interest
and principal the County shall levy
taxes upon all the assesabe property within the limits
OF the County in rate and sufficient
mens In the event that the
ad valorem taxes all the property
County levied in fiscal year. together
available for the payment principal such
bonds and certificates of Indebtedness shall prove inadequate
such additional taxes shall be levied succeeding
year to make up any such deficiency
Sec ALI such bonds shall have and
have between successive holders all the qualities
of negotiable instruments under the negotiable
the State of Maryland to the provided
Article 81 of the Annotated Code of Maryland Edition.
amended
Sec Any and all such bonds the
income derived hereom the hands
from time to me shall be and hereby
from State County and municipal taxation every
whatsoever in the State of Maryland.
Sec g. The granted by additional and
cumulative and the bonds may issued
Notwithstanding that other laws provide
bonds or the borrowing of money for the similar
on the same or other terms and conditions.
Sec TO- The provisions of this Act
its provisions shall be held unconstitutional
of competent jurisdiction the affect
impair of the remaining provisions hereby declared
to be the legislative intent that this
had such unconstitutional provisions been included
therein.
Passed. May &c. 1856