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Session Laws, 1924
Volume 568, Page 981   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 981

the said Mayor and Town Council of Kitzmillersville shall then
determine the amount necessary to be raised for the ensuing year
for the payment of the interest or such portion thereof and pro-
portionate part of principal of all outstanding bonds, the
amount to be paid on the principal of said bonds in any one
year to be determined by the usual table of redemption of bonds
by annual deposits in a sinking fund on interest, and after de-
ducting all amounts in hand applicable to payment of interest
and principal on said bonds, as hereinafter provided, it shall
determine the number of cents per $100 necessary to raise the
said amount, and the said Mayor and Town Council of Kitzmil-
lersville in their next annual levy shall levy said tax on all land
and improvements and any other property assessed for munici-
pal purposes within said town of Kitzmillersville, which tax
shall be levied and collected as the said town taxes now are 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 said taxes for the town of
Kitzmillersville now are. The tax so levied for the ensuing year
shall be collected by the tax collecting authorities, and every 60
days the said tax collector shall remit the full amount of the tax
so collected to the Mayor and Town Council of Kitzmillersville.
From the money so received, together with the amount in hand,
to the credit of said bond fund, said Mayor and Town Council
of Kitzmillersville shall first pay all interest on said bonds as it
matures, and shall then deposit in some bank or banks in Kitz-
millersville in their name as a fund to be known as the "Water
Supply and Sewerage Sinking Fund Account, " the amount so
raised for payment of the principal of said bonds. Should re-
ceipts from said taxes or other sources be inadequate to deposit
the principal payment of said bonds, by reason of defaults or
otherwise, such deficiency shall be added to and collected in the
next year's tax. The Mayor and Town Council of Kitzmillers-
ville are authorized to pay the 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 the prompt payment of
interest and the proper provision for the payment of the princi-
pal of said bonds shall be assured, the prompt and proper per-
formance of the respective acts and duties heretofore defined is
specifically enjoined, and failure upon the part of any person,
persons, body corporate or agent to perform the necessary acts
and duties hereafter set forth, to pay over the said funds as
required, or to use said funds or any part thereof for any other
purpose than for the payment of the principal and interest on

 

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Session Laws, 1924
Volume 568, Page 981   View pdf image (33K)
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