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Session Laws, 1912
Volume 370, Page 1499   View pdf image
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PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1499

water works so as to pollute the same, shall, upon conviction of
such offense be liable to a fine of not less than five nor more
than fifty dollars for each offense, to be recovered by the Mayor
and council of Rockville before a justice of the peace, as other
fines are recoverable, one-half of such fine to go to the informer,
and the balance to the Mayor and council of Rockville, for
the purposes of said water works.

1896, ch. 179, sec. 5.

520. That for the purpose of redeeming said bonds at their
maturity, and for securing the prompt payment of the interest
thereon, the Mayor and council of Rockville shall, for the year
of' the issue of said bonds, and annually thereafter, until the
maturity of said bonds, levy a tax on the assessable property
of said town sufficient to pay the interest thereon, and in addi-
tion thereto the sum of six hundred and fifty dollars of the
principal of said debt for the payment of the same at maturity.
The said sum of six hundred and fifty dollars, shall be held
and invested by Mayor and Council of Rockville as a sinking
fund for the redemption of said bonds, at their maturity; and
the said Mayor and council, shall, from time to time, deposit
the money belonging to said sinking fund and the increment
thereof, in some safe depository which pays interest on deposits,
or shall invest the same in State, county or municipal bonds or
in such other safe investments as to them may seem best, or in
the purchase or redemption of any of said bonds, as may be
offered for sale and redemption. And upon the purchase of
any such bonds by the said Mayor and council, they shall be
immediately cancelled by stamping across their face: "Can-
celled by the sinking fund," and no portion of said sinking->
fund so levied for shall ever be diverted to any other purpose
than the purchase and liquidation of said bonds. And should
the said Mayor and council or any other person having charge
of said sinking fund, suffer or permit the same or any part
thereof to be diverted from or applied to any other purpose
than the investment for the purchase and redemption of said
bonds, the party so offending shall be deemed guilty of a
misdemeanor, and on conviction thereof, shall be subject to a
fine of not less than the amount so misapplied or diverted.
The money collected each year by the bailiff on account of
taxes to the extent of the said sum of six hundred and fifty
dollars shall be set apart for said sinking fund, and a separate
account kept by the Mayor and council and deposited to the
credit of the said fund, and no part of which shall be charge-
able with insolvencies on account of failure of assessment or
collections.

 

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Session Laws, 1912
Volume 370, Page 1499   View pdf image
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