Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1956-06-28

paayb such time or times be in such denomination or denoin
registration conversion privileges
such officers and in payable
payment at such place places within without the State
Maryland and be subject redemption
of the County with without premium may by
the resolution resolutions of the County Council authorizing
subsequent
prior to their issuance
Sec A. of shall mature in such
number of consecutive annual naments exceeding thirty
800 and beginning than year
bonds may determined by the
County Council authorizing such bonds and of install
ments shall be less than fifty per cenum 5000 of other in
sament None of such bonds shall bear interest any
rates higher than five per centum $50 per annum
Sec s. Such bonds shall subject provisions
Sections 49, 33 "a Article
deliver and sell said bonds at public sale in such and for
such price prices by resolution determine provided
that sale shall price prices
of said bonds and accrued interest thereon.
be issued upon the full faith and
credit of the County which hereby pledged puncua
principal interest thereon and they shall
be payable primarily the
the Wheaton Parking Lot District pursuant Chapter
Section l. paragraph (c) entitled heaon Parking Lot District
of the Montgomery County Code 1885,
but if such and other insufficient purpose
bonds shall PAYABLE from unlimited ad vaorem Levied
all assesabe property within the County, and the resolution
resolutions of the County Council authorizing the issuance
such bonds certificates of Indebtedness shall
and every fiscal year that such bonds will be ouand
ing the County and the County Council shall levy
levied the special authorized said Chapter As
amounts sufficient provide for the when of the
interest and principal of all such bonds becoming due in such fiscal
and if the estimated receipts special
such interest and principal shall be insufficient interest
and principal the County shall levy be levied ad vaorem
all the assessabe property within corporate
of the County rate and amount sufficient to provide such
ment In the that the from
ad valorem upon all the property
County levied in fiscal together with other
available for the payment of the interest and principal of such
bonds and certificates of Indebtedness shall inadequate
such additional shall be succeeding
year to make up any such deficiency
Sec T. All such bonds shall hereby
have between successive holders all qualities
the State of Maryland the provided
Article 81 of the Annotated Code of Maryland 951 Edition.
amended.
Sec Any and all bonds the
income derived hereom in the
from time time shall hereby exempt
from State County and municipal taxation every
whatsoever in the State of Maryland.
Sec g. The granted by this Act
cumulative and the bonds authorized this
Notwithstanding that other provide
bonds the borrowing of for the similar purposes
on the same or other terms and conditions.
Sec 10 The provisions severable and any
its provisions shall be held unconstitutional any
of competent jurisdiction the decision
or impair any of the remaining provisions is hereby declared
to be the legislative intent that this Act would
had such unconstitutional invalid provisions
therein.
Passed. Nav 30 1856