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Session Laws, 1920
Volume 539, Page 275   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 275

ments to bear interest at the rate of 6 per cent and to be pay-
able at the same time, in the same manner and subject to the
same penalties and methods of collection, as the front foot
benefit charges provided under Section 6. One-half of the
revenue, above actual cost, derived from such charges shall be
retained by the Mayor and Common Council of Union Bridge
as a contingent fund for repairs, replacements, or any extraor-
dinary expense in the maintenance and operation of the
sewerage system under their control. The remaining half shall
be applied by the Mayor and Common Council of Union Bridge-
to the payment,of the bonded debt, as hereinafter provided.

SEC. 10. And be it further enacted, That all sums collected
by the Mayor and Common Council of Union Bridge for bene-
fits levied against property for sewerage and drainage con-
struction, and half of all sums collected by the Mayor and
Common Council of Union Bridge for sewer and drain con-
nections as provided in Section 9, shall be set aside as a?
separate fund to be known and designated as the "Current
Interest and Sinking Fund," from which fund interest slialF
be paid on all outstanding bonds, and the balance, if any,
transferred to the "Sewerage Sinking Fund Account,'' as
provided under Section 4. The Mayor and Common Council
of Union Bridge in order to determine the amount necessary
to be levied under Section 4, shall deduct the amount to their
credit in said "Current Interest and Sinking Fund" from
the whole amount necessary to be raised in any one year for
interest and sinking fund on outstanding bonds, and the bal-
ance remaining to be raised shall be the amount to be col-
lected by taxation as provided under Section 4.

SEC. 11. And be it further enacted, That for the purpose of
providing funds for maintaining, repairing and operating-
their sewerage and drainage system, including overhead ex-
penses and property depreciation allowance, said Mayor and
Common Council of Union Bridge sh'all be empowered and
directed to make such service rates as it may deem necessary
chargeable against all properties having a connection with any
sewer under their ownership. Said rates shall be uniforms
throughout the town of Union Bridge, but subject to change
from time to time as necessary.

SEC. 12. And be it further enacted, That the Mayor and
Common Council of Union Bridge may enter upon any State,
county or municipal street, road or alley or any public high-


 

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Session Laws, 1920
Volume 539, Page 275   View pdf image (33K)
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