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Session Laws, 1912
Volume 370, Page 1079   View pdf image
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PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1079

SEC. 6. And be it enacted, That all moneys arising from
the sale of said bonds shall be kept as a separate fund for the
purpose of this act, and shall be deposited in some bank or
banks in the Town of Cambridge, Maryland, and be paid out
or expended only upon the order of the said County Commis-
sioners for the purposes of this act, and for no other. And the
clerk of the said County Commissioners shall keep a full reg-
istry of the said bonds, with the names of the purchasers
thereof, and the amount realized from the sales of the same,
with the date of maturity of such bond, and when said bonds
have been redeemed the same shall at once be cancelled on the
face of the said bonds and on the books of registry, and shall
not be issued again.

SEC. 7. And Be it enacted, That the said County Commis-
sioners may at any time issue the said bonds in such number
or numbers as in their judgment may be necessary and proper
for the objects and purposes of this act, and the said County
Commissioners shall be and they are hereby authorized and
directed to apply and expend the moneys arising from the sale
of said bonds for the objects and purposes of this act and for
none other, at such times and in such amounts as in their judg-
ment they may deem right and proper.

SEC. 8. And be it enacted, That the said County Commis-
sioners are hereby authorized, empowered and directed, and it
shall be their duty to cause to be levied upon and collected from
the taxable property of the said county an additional tax annu-
ally sufficient to pay the said bonds and interest as the said
bonds and interest may severally mature as herein provided;
and the said special tax or levy shall be a lien upon the tax-
able property of the said county upon which it is so levied in
the same manner and to the same extent as other taxes levied
in said county and the said tax shall be collectible and collected
in like manner as other taxes levied in the said county are col-
lectible and collected; and when collected the said special tax
shall be applied as hereinbefore provided to the payment of
the said bonds as they severally mature and the interest thereon
semi-annually, when and as hereinbefore provided; which said
bonds and coupons when issued, as herein provided, shall be
non-contestable for any cause whatsoever, and shall be exempt
from all taxes, county and municipal, levied in Dorchester
county.

SEC. 9. And be it enacted, That this act shall take effect
from the date of its passage.

Approved April 8, 1912.

 

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Session Laws, 1912
Volume 370, Page 1079   View pdf image
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