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Session Laws, 1947
Volume 411, Page 999   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 999

by the Board in the operation of such dispensaries. Fifty
per centum (50%) of all net profits in excess of the above
shall belong to and be paid over to the County Commissioners
of Worcester County on or before June 1st, in each and every
year, and the remaining fifty per centum (50%) shall on or
before June 1st, each year, be paid to the Mayor and City
Council of Berlin, Ocean City, Pocomoke City and Snow Hill
in proportion to the net profits on total sales of the dispen-
saries in each of said towns.

(2) The amounts paid to the Mayor and Council of Berlin,
Ocean City and Snow Hill shall be used for general municipal
purposes.

(3) The amounts paid to the Mayor and Council of Poco-
moke City shall be used to pay the interest and principal of
bonds of said town dated January 1, 1937, and aggregating
|26,000.00, to be used with Federal funds to construct a Muni-
cipal Building, and said funds shall be used for no other pur-
pose until all of said bonds have been paid.

(4) After the above-mentioned bonds of Pocomoke City have
been fully paid, then Pocomoke City's share of net profits to
the amount of $5,000.00 shall be held in trust by the Mayor
and Council, the income to be paid to the Treasurer of the
Pocomoke Public Library, Inc., to be used exclusively for the
purchase of books for said Library. The Mayor and Council
shall invest the principal of the trust fund only in bonds of
the United States, State of Maryland, or of any county, city,
town or other political sub-division of the State, or in mort-
gages on real estate situated in Worcester County, but no
investment shall be made except on the written recommenda-
tion of the Board of Directors of the Pocomoke City National
Bank and the Citizens' National Bank of Pocomoke City.

(5) After all of the above-mentioned bonds of Pocomoke
City have been retired and the trust fund of $5,000.00 for the
Pocomoke Public Library, Inc., has been established, the said
Mayor and Council of Pocomoke City shall pay annually out
of said receipts from said town's share of the net profits, the
sum of $500.00 to the Treasurer of the Pocomoke Public
Library, Inc., to be used in the discretion of said Library,
either for the purchase of books or for the salary of a paid
librarian and shall apply the remainder of said net profits
for the payment of interest and principal of any bonds of said
town which may be outstanding.

149. FINANCIAL INTERESTS, (a) No member or em-
ployee of a Liquor Control Board shall have any financial
interest, directly or indirectly, in the manufacture of any
alcoholic beverage, or in any alcoholic beverage purchased or
sold under the provisions of this Article or derive any profit

 

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Session Laws, 1947
Volume 411, Page 999   View pdf image (33K)
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