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Session Laws, 1914
Volume 533, Page 697   View pdf image (33K)
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PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 697

SEC. 6. And be it enacted, That for the purpose of paying
for said new Court House, offices, and to supply the furniture
for the same, which may be needed in addition to that already
owned by the County, the County Commissioners are hereby
authorized and directed to borrow on the credit of the County
an amount not exceeding twenty-five thousand ($25,000.00),
and to issue coupon bonds therefor in sums not less than
one hundred dollars each nor more than one thousand dollars
to be signed by the President of the Board of County Commis-
sioners and countersigned by its Clerk, and sealed with the
seal of the office, bearing interest at the rate of six per cent.,
payable annually and dated on the day of their issue, the
principal of said bonds to be payable in not less than ten nor
more than twenty-five years, the said bonds to be sold by the
said County Commissioners for not less than the par value
thereof and the proceeds paid over to the Building Committee
or its order and the proceeds to be applied by said Building
Committee to the payment of the expenses incurred in the erec-
tion of the Court House, the offices, the furniture and other
necessary expenses as herein provided.

SEC. 7. And be it enacted, That the said bonds shall be issued
to mature at such dates as shall not require to be levied in any
one year of more than one thousand dollars of the principal
sum thereof, and that the said bonds shall be redeemable with
interest by said County Commissioners at the maturity thereof,
which shall not be less than ten nor more than twenty-five years
from the date of issue, and which date of issue shall be the same
on all bonds authorized by this Act.

SEC. 8. And be it enacted, That to redeem said bonds the
County Commissioners shall annually levy upon the assessable
property of Calvert County a tax sufficient to pay the interest
on said loan, less any sum that may be otherwise provided for
this purpose, and such portion of the principal sum as deemed
advisable, not less than the sum of one thousand dollars of
said principal.

SEC. 9. And be it enacted, That the bonds hereby authorized
shall be exempted from all taxes and that coupons for interest
thereon shall be received by the County treasurer in payment
of County taxes.

SEC. 10. And be it enacted, That the said Building Committee
shall have the Court House grounds improved as a yard, and a
suitable fence or inclosure, erected thereon and call upon the

 

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Session Laws, 1914
Volume 533, Page 697   View pdf image (33K)
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