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Session Laws, 1933 Session
Volume 421, Page 927   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 927

and/or sewerage system provided for by this Act, and all
taxes and assessments levied and collected, as hereinafter
provided for the payment of interest and principal of said
bonds, shall be likewise kept by them as a separate fund.

SEC. 4. And be it further enacted, That for the pur-
pose of redeeming the said bonds authorized to be issued
by this Act, and for the payment of interest thereon, there
shall be levied by "The Commissioners of Vienna" against
all of the assessable property within the corporate limits of
Vienna, annually, so long as any of said bonds are out-
standing and not paid, a tax sufficient to pay the interest
on said bonds as said interest shall become due and pay-
able and to levy such sums in addition as may be required,
and to pay or redeem said bonds as the same mature from
time to time, until all of said bonds have been paid. Said
tax shall be determined, levied, collected and paid over in
the following manner: At least thirty days before the tax
levying period of each year, "The Commissioners of
Vienna, " shall determine the amount necessary to be raised
for the ensuing year for the payment of the interest on all
outstanding bonds, and for the redemption of a bond each
year, as hereinbefore provided, and they, "The Commis-
missioners of Vienna" shall determine the number of cents
per hundred dollars necessary to raise the said amount;
"The Commissioners of Vienna" in their next annual levy
following the sale of the said bond, shall levy said tax on
all land and improvements, and any other property assessed
for municipal purposes within the Town of Vienna, which
said tax shall be levied or collected as the town taxes are
now, or may be hereafter by law, levied and collected, and
have the same priority rights, bear the same interest and
penalties, and in every respect be treated the same as other
taxes of Vienna now are; from the money so received "The
Commissioners of Vienna" shall first pay all interest on
said bonds as it matures, and shall redeem one of said
bonds in each and every year, as hereinbefore provided,
beginning two years after date of issue of said bonds;
should receipts from said taxes and assessments be in-
adequate to pay said interest and redeem one bond in each
and every year, as hereinbefore provided, by reason of de-
fault or otherwise, such deficiency shall be added to and
collected in the next year's taxes. "The Commissioners of
Vienna" are authorized to pay interest on any bonds they
may issue prior to the first tax levying period out of the
proceeds of the sale of said bonds. In order that prompt
payment of interest on the bonds and a prompt redemp-
tion of one of said bonds shall be made in each and every

 

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Session Laws, 1933 Session
Volume 421, Page 927   View pdf image (33K)
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