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Session Laws, 1912
Volume 370, Page 72   View pdf image
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72 LAWS OF MARYLAND. [Ch. 29]

faithful performance of the duties imposed upon him by this
act.

SEC. 9. And be it enacted, That for the purpose of redeem-
ing said bonds at maturity and for the securing of the prompt
payment of the interest thereon, the Town Commissioners of
Centreville shall levy a special tax on each one hundred dollars
of the assessed value of all property, real and personal, in the
corporate limits of said town of Centreville, subject to taxation,
in addition to the other taxes now authorized to be levied and
collected by said corporation, such sum or sums of money as
shall be necessary to pay the annual interest on said bonds, and
to pay said bonds as they respectively mature; said special tax
shall be known as the "Electric Plant Tax" and shall be levied
at the same time, and shall become due and in arrear at the
same time, and shall bear interest from the same date, and shall
be liens on all property of the person or corporation assessed,
and shall be collected in the same manner as other taxes now
authorized to be levied, assessed and collected by said corpora-
tion. The proceeds of said special tax shall be kept separate
from the other funds of said corporation and shall be used for
the payment of the interest on said bonds, and for the payment
of said bonds, and for no other purpose whatsoever. In deter-
mining the amount of the special tax hereby authorized to be
levied and collected, the Town Commissioners of Centreville
shall make allowance for the amount applicable to the payment
of said interest and said bonds from the "Electric Plant Rate
Fund," as set forth in section 8 of this act, but no allowance
shall be made for any amount not actually in bank or in hand
at the time of said levy.

SEC. 10. And be it enacted, That if at any time the revenue
derived from the payment for said electric service by consumers
shall be insufficient to pay the expenses of running and main-
taining said plant, and repairing the same, then the commis-
sioners of said corporation are hereby authorized and empow-
ered to deposit from time to time in bank to the credit of the
same account mentioned in section 8 of this act, from the pro-
ceeds of the tax they are now authorized and directed by law to
levy for the use, improvement and expenses of said town such
sum or sums, not to exceed in the aggregate in any one year
two thousand dollars, as may be necessary, in their judgment,
to make up said deficiency; and the said sum or sums so depos-
ited shall be used in the payment of the expenses of running and
maintaining said plant, and repairing the same, and for no
other purpose whatsoever, and shall be withdrawn from bank in

 

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Session Laws, 1912
Volume 370, Page 72   View pdf image
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