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Session Laws, 1914
Volume 533, Page 443   View pdf image (33K)
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PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 443

SEC. 6. And be it enacted, That all moneys-arising from the
sale of said bonds shall be kept as a separate fund for the pur-
pose of this Act, and shall be deposited in some bank or banks
in the town of Cambridge, Maryland, and being 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 saicl bonds, with the names of the purchasers thereof, and
the amount realized from the sales of the same, with the date
of maturity of such bonds, and when said bonds have been
redeemed the same shall at once be cancelled on the face of the
said bonds and on the books of registry, and shall not be issued
again.

SEC. 7. And be it enacted, That the said County Commis-
sioners 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 Com-
missioners shall be and they are hereby authorized 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. 8. And be it enacted, That the said County Commis-
sioners are hereby authorized, empowered and directed, and it
shall be their duty to cause to be levied upon and collected from
the taxable property of the said County an additional tax an-
nually sufficient to pay the said bonds and interest as the said
bonds and interest may severally mature as herin 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
said County, and the said tax shall be collectible ard collected
in like manner as other taxes levied in the said County are
collectible and collected; and when collected the said special tax
shall be applied as hereinbefore provided to the payment of
the said bonds as they severally mature and the interest thereon
semi-annually, when and as hereinbefore provided; which said
bonds and coupons when issued, as herein provided, shall be
non-contestable for any cause whatsoever, and shall be exempt
from all taxes, County and municipal, levied in Dorchester
County.

 

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Session Laws, 1914
Volume 533, Page 443   View pdf image (33K)
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