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Session Laws, 1933 Session
Volume 421, Page 274   View pdf image (33K)
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274 LAWS OF MARYLAND. [CH. 163

penses of sale, costs, and fees on property purchased by the
Board of County Commissioners for such year remaining
unredeemed at the time of issuance of such new certificates,
but all such certificates of indebtedness shall mature with-
in the time herein limited for the maturity of the original
certificates of indebtedness. Said Board of County Com-
missioners shall by resolution fix the form of such certifi-
cates of indebtedness, the officers by whom they shall be
executed, the amounts, the medium of payment and the
place or places in Maryland or elsewhere at which they shall
be payable. Such certificates of indebtedness may be re-
newed from time to time by endorsement thereon or new
certificates of indebtedness may be issued from time to time
for the payment of such certificates issued hereunder as
may mature and all such new certificates may be issued in
the same manner as herein provided not exceeding the total
principal of the maturing certificates and shall mature
within the time herein limited for the maturity of the
original certificates of indebtedness. All money received
from the redemption and from the sale of property sold
for taxes and/or special assessments in any year shall be
kept in a separate fund, identified by the year in which the
sale for taxes and/or special assessments is made and
designated as "19............... Tax Sale Fund, " and shall be ap-
plied solely to the payment of the principal and interest of
certificates of indebtedness and renewals thereof or new
certificates, issued in anticipation of the receipt of such
monies. The County Commissioners may purchase or re-
deem before maturity any of such certificates offered. In
each year in which property is sold for taxes and/or spe-
cial assessments there shall be included in the annual tax
levy an amount sufficient to pay one year's interest on all
certificates of indebtedness authorized or to be authorized
by said Board in anticipation of the receipt of monies from
the redemption and from the sale of property sold for such
taxes and/or special assessments. In each year thereafter
there shall be included in the annual tax levy an amount
sufficient to provide for the payment of the principal and
the interest of all certificates of indebtedness as the same
shall fall due, provided, however, that the amount of such
tax may be reduced by the amount received into the fund
which is pledged to the payment of such certificates of
indebtedness. After the payment of the principal and in-
terest of all certificates of indebtedness issued in anticipa-
tion of the receipt of money from the redemption and sale
of property sold for taxes and/or special assessments in
any year, all funds received from the sale or redemption

 

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Session Laws, 1933 Session
Volume 421, Page 274   View pdf image (33K)
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