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Session Laws, 1898 Session
Volume 482, Page 1114   View pdf image (33K)
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1114

LAWS OF MARYLAND.
State and county and municipal taxation, and they shall be

Bonds to be
Issued.

divided into two classes, one-naif of the amount issued shall
become due five years from the first day of January, in the
year eighteen hundred and ninety-nine ; and the other half of
said amount shall become due ten years after the last men-
tioned date. The Commissioners shall pay the interest on said
bonds out of the annual taxes levied for corporate purposes,
and they shall annually set apart out of the moneys received
from the County Commissioners, or out of any other funds
belonging to the Commissioners for corporate purposes, the
sum of five hundred dollars, to provide a sinking fund for the
payment of said bonds as they mature and become payable.
And the Commissioners shall invest the said sums, so annually
set apart, to provide a sinking fund for the payment of said
bonds, in first mortgages on real estate, in Maryland State
bonds, in Dorchester county bonds, or in bonds issued by the
town of Cambridge 5 and a separate account shall be kept by
said Commissioners of said fund, and the money appropriated
as a sinking fund shall, under no circumstances be used or
appropriated for any other purposes whatsoever, and shall not
be expended by the Commissioners for any cause or object
other than to pay off, or take up the bonds issued under the
authority of this sub-section, and if the Commissioners shall
neglect or refuse to set apart the sum of five hundred dollars
in each and every year, as aforesaid, to provide a sinking fund,
or shall appropriate or expend the said funds or any part
thereof for any purpose whatsoever, except for the purpose of
taking up and paying off the bonds hereby authorized to be
issued, each and every one of said Commissioners who consents
to the misappropriation of the moneys belonging to said sink-
ing fund shall be guilty of a misdemeanor, and on conviction
thereof shall be fined or imprisoned, as the court or justice
trying the case may determine ; provided, that no Commis-
sioners, so found guilty, shall be fined over one hundred dollars,
or be imprisoned in the county jail for more than six months,
for each and every offense. Any tines imposed under this sub-
section shall be paid to the treasurer of said town, to be used
for the corporate purposes of said town of Cambridge.

Effective.

SEC. 4. Be it further enacted, That this Act shall take effect
from the date of its passage.
Approved April 9, 1898.

CHAPTER 481.
AN ACT to provide for the transmission to the Commission-
ers of the Land Office of extracts from certain records in



 
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Session Laws, 1898 Session
Volume 482, Page 1114   View pdf image (33K)
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