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Session Laws, 1904
Volume 209, Page 221   View pdf image
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EDWIN WARFIELD, ESQ., GOVERNOR.

221

ville subject to taxation in addition to the regular annual taxes

 

authorized to be levied and collected by Section 18 of the

 

Acts of the General Assembly of Maryland of 1902, Chap-

 

ter 631, and the said tax shall be levied at the same time,

 

and shall become due, be in arrear at the same time, shall

 

bear interest from the same date, and be liens on all the prop-

Liens.

erty of the person and corporations assessed, and shall be col-

 

lected as other taxes authorized to be levied by said Mayor

 

and Common Council of Hyattsville; but if said bonds shall

 

be sold at such time of the year as to make it impracticable

 

to levy said special sewer tax for said year, at the same time

 

with the levy of other annual taxes for such year, the Mayor

 

and Common Council of Hyattsville shall levy said special tax

 

as soon after such sale as practicable, and said special tax

 

shall be due and payable thirty days after such levy and shall

 

bear interest from said date. The said special sewer taxes

 

shall be apportioned by the Treasurer to the payment of the in-

 

terest on said bonds as the same shall become cine and payable,

 

and if the special sewer taxes collected in any year shall be

 

insufficient to pay the interest on said bonds in said year, the

 

deficiency shall be made up and be paid from the general rev-

Deficiency to

enues of the Mayor and Common Council of Hyattsville, and

be provided
for.

if the special sewer tax shall not have been collected in time to

 

pay any semi-annual instalment of interest when it shall be due

 

and payable, so mu ch of the general revenues of said Mayor

 

and Common Council shall be applied to the payment thereof

 

as may be requisite, and the amount so applied may afterwards

 

be made good to the general revenue out of the last preceding

 

levy of said special cewer tax. There shall be a sinking fund

 

created and constantly maintained which shall become sufficient

Sinking fund

in amount to redeem at maturity all said bonds then outstand-

reated.

ing, and shall be used for that purpose only, and the Treasurer

 

and the Mayor and Common Council of Hyattsville shall be

 

custodian thereof and responsible for its safety.

 

To create and maintain said sinking fund, all moneys real-

 

ized by said special sewer tax which shall remain, if any, after

To maintain
aid fund.

the payment of the interest on said bonds in each of the first

 

four years, accounting from the date thereof, shall be set apart

 

for said sinking fund. After the expiration of said four years

 

there shall be contributed and paid each year into the sinking

 

fund such an amount of money as, with any interest added

 

thereto which may have been collected during said year from

 

the deposits and investments of the sinking fund, will be equal

 

to one-twenty-sixth of the difference between the amount of

 


 
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Session Laws, 1904
Volume 209, Page 221   View pdf image
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