Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1956-06-21


De IN sucn form ether coupon or registered carry such
registration conversion privileges be executed
such officers and in such payable in such medium
payment at such place or places within or without the State of
Maryland and be subject such redemption option
OF the County with without premium may by
the resolution resolutions of the County Council authorizing
such bonds subsequent resolutions of the County Council
prior to their issuance
Sec such series shall mature in such
number of consecutive annual nstamen exceeding thirty
800 and beginning not than year
as may be determined by the resolution resolutions of the
County Council authorizing
men shall be less than fifty any
ent None OF such bonds shall bear interest
rates higher than five per centum $50 per annum
Sec Such bonds shall not be subject provisions
sections g 33 and "a of Article 81 Mary
nd 951 Edition. amended County may issue
and sell said bonds at public sale such
such prices as may by resolution determine provided
at no sale shall be price prices
u sad bonds and accrued interest thereon
o. All such bonds shall be issued upon the faith
the County which is hereby pledged punctua pay
Oh the principal thereof and interest thereon they shall
% primarily from the
Parking Lot District pursuant Chapter as
Of paragraph Co. entitled Wheaton Parking Lot District
W montgomery County Code 1855 amended
m such taxes and other funds purpose
mon al Sa be payable from unlimited ad valorem taxes levied
"po OH asessabe within the County
or resolutions of the County authorizing the issuance of
ouS or certificates provide
every fiscal year that any such bonds
s e county and the County Council shall levy
e'eo the SPECIAL taxes Chapter amount
or amounts sufficient provide payment when due of the
interest ana principal of becoming such fiscal
year anu the amount of estimated receipts from special
taxes together with other payment of
such interest and principal insufficient pay interest
ana principal the County shall levy vaorem
taxes upon all the assessab property corporate limits
Oh the County In rate provide such
IN the event that the proceeds from special
du VoIn taxes upon all the assessable property within the
Couy eVeo IN any fiscal year. together with
aaDe Tor the payment of the interest principal
oon ana ertcaes Indebtedness shall prove inadequate
sch purpose additional the succeeding fiscal
year to make up any deficiency
sec All such bonds Shall have, and
nave as between successive holders all qualities
Oh egotaole instruments under the negotiable
the STATE OF Maryland to the provided
Aruce 81 OF the Annotated Code Maryland 1881 Edition. as
-
sec O. ANY ana all such bonds
derived thereom in the thereof
from Tune to time shall be and hereby exempt
from STATE County and municipal nature
whatsoever in the State of Maryland
sec Inc powers granted by this additional and
and the bonds authorized by may be issued
that other provide the issuance of other
o OF the borrowing of for the purposes
on the same other terms and conditions
Sec IT, The provisions severable and anv of
us provisions shall be held invalid by any court
VI competent JuI1sdcon the decision
or impair any OF the remaining provisions hereby declared
10 De he legislative intent that this adopted
mad SUCH provisions not been included
therein. - -
Passed: May 1856