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Session Laws, 1910 Session
Volume 487, Page 814   View pdf image (33K)
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814 LAWS OF MARYLAND.

SEC. 6. And be it further enacted, That after the said bonds
have been properly prepared and duly executed as herein pre-
scribed, the said County Commissioners of Dorchester County
are hereby authorized and directed to sell the said bonds at
such times and in such numbers as may be necessary for the
objects and purposes of this Act, at either private or public
sale to the best advantage, in the discretion of the said County
Commissioners, upon such notice as the said County Commis-
sioners may deem expedient, provided, that the said bonds
shall be sold upon competitive bidding by sealed offers, with
the privilege reserved to the County Commissioners of reject-
ing any and all bids; and provided, further, that none of said
bonds shall be sold for less than par.

SEC. 7. And be it further enacted, That all moneys arising
from the sale of said bonds shall be kept as a separate fund
for the purposes of this Act, and shall be deposited in some
bank or banks in the Town of Cambridge, Maryland, and be
paid out or expended only upon the order of the said County
Commissioners, for the purposes of this Act,, and for no other;
and the Clerk of the said County Commissioners shall keep a
full registry of the said bonds, with the names of the purchas-
ers thereof, and the amount realized from the sales of the same,
with the date of maturity of each bond, and when said bonds
have been redeemed the same shall at once be cancelled on the
face of said bonds and on the books of registry, and shall not
be issued again.

SEC. 8. And be it further enacted, That the said County
Commissioners may at any time issue the said bonds in such
number or numbers as in their judgment may be necessary and
proper for the objects and purposes of this Act, and the said
County Commissioners shall be, and they are hereby author-
ized and directed to apply and expend the moneys arising from
the sale of said bonds for the objects and purposes of this Act,
and for none other, at such times, and in such amounts as in
their judgment they may deem right and proper.

SEC. 9. And be it further enacted, That the said County
Commissioners are hereby authorized, empowered and directed,
and it shall be their duty, to cause to be levied upon and col-
lected from the taxable property of the said County an addi-
tional tax annually sufficient to pay the said bonds and inter-
est as the said bonds and interest may severally mature, as
herein provided; and the said special tax or levy shall be a lien
upon the taxable property of the said county upon which it is
so levied in the same manner and to the same extent as other
taxes levied in the said county and the said tax shall be col-
lectible and collected in like manner as other taxes levied in


 

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Session Laws, 1910 Session
Volume 487, Page 814   View pdf image (33K)
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