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Session Laws, 1947 Special Session
Volume 404, Page 39   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 39

and to pay the principal thereof as the bonds mature, and
said tax shall be determined, levied, collected and paid over
in the manner following, that is to say, at least sixty days
before the tax levying period of each year, the County Com-
missioners shall certify to the LaVale Sanitary Commission
the whole valuation of the assessable property within the
sanitary district. The Commission shall then determine in
the manner above prescribed the amount which it deems
necessary to be raised during the ensuing year for the pay-
ment of interest and principal of all serial bonds maturing
in said year, and after deducting all amounts in hand or in
contemplation applicable to payments of interest and prin-
cipal on said bonds as hereinbefore and hereinafter in the
sub-title provided; it shall determine the number of cents
per $100. 00 within the aforesaid limitation, necessary to
raise the said amount for such sanitary district and shall
certify the same to the Board of County Commissioners.
The said County Commissioners in their next annual levy
shall levy said tax on all real property and all other prop-
erty assessed for county tax purposes within the sanitary
district, which tax -shall be levied and collected and have
the same priority rights, bear the same interest and penal-
ties and in every respect be treated the same as county taxes.
The tax so levied for the ensuing year shall be collected by
the tax collecting authorities and every sixty days they shall
remit the whole amount of the tax so collected to the Com-
mission. From the money so received, together with the
amount in hand to the credit of said bond fund, the Com-
mission shall first pay all interest and principal in said
bonds as it becomes due, and shall then deposit the residue
of said moneys in some bank or banks in said County to the
joint credit of the County Commissioners and the Commis-
sion. The Commission is authorized to pay the interest on
any bonds it may issue out of the proceeds of the sale of
said bonds, but not more than one year's interest may be
so paid.

380-I. In order that the prompt payment of interest and
the proper provision for the payment of the principal of
said bonds shall be assured, the prompt and proper perform-
ance of the respective acts and duties heretofore defined is
specifically enjoined, and any failure upon the part of any
person, persons, body corporate or agent to perform the
necessary acts and duties hereafter set forth, to pay over
the said funds as required, or to use said funds or any part
thereof for any other purpose than for the payment of the
principal and interest on said bonds, is hereby declared a
misdemeanor and punishable as other misdemeanors are
punishable by Section 381J of this sub-title.

 

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Session Laws, 1947 Special Session
Volume 404, Page 39   View pdf image (33K)
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