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Session Laws, 1927
Volume 569, Page 454   View pdf image (33K)
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454 LAWS OF MARYLAND. [CH. 255

Salisbury that the revenue therefrom shall be used to defray
all expenses in connection with the operation and maintenance
thereof and to pay the principal of the first One Hundred
Thousand Dollars (100, 000. 00) of the bonds issued hereun-
der as they severally mature, and to pay the interest thereon,
and in addition thereto to pay the principal of and interest
on all or such portion of the second One Hundred Thousand
Dollars ($100, 000. 00) of bonds issued hereunder as the Mayor
and Council of Salisbury may from time to time by resolu-
tion determine; the Mayor and Council of Salisbury shall
annually, as long as any of said bonds are outstanding and
unpaid, levy against all of the assessable property within the
City of Salisbury a tax sufficient to meet the interest on said
bonds as it becomes due and to pay the principal thereof as
they severally mature, provided, however, that in determining
the amount of tax necessary to pay said interest and principal,
the Mayor and Council of Salisbury shall annually deduct
from the amount determined as necessary to pay the principal
and interest on said bonds, the full amount collected and
received in such year from the water charges as provided for
by this Section; it being the intention of this Act to make
it mandatory on the Mayor and Council of Salisbury to levy
a tax upon all of the assessable property in Salisbury suffi-
cient to meet and pay the interest and principal maturing
in such year on said bonds in excess of the amount of the
principal and interest on said bonds met and paid out of said
water service charges; said tax to be levied, collected and
paid in the same manner as are the taxes with respect to the
Salisbury Water and Sewer Bonds issued in pursuance of
Chapter 494 of the Acts of the General Assembly of Mary-
land of 1924 are determined, levied, collected and paid.

SEC. 4. And be it further enacted, That this Act shall
be supplemental to Chapter 494 of the Acts of the General
Assembly of Maryland^ of 1924, and is intended to enlarge
but not to curtail the rights and powers of the Salisbury
Water and Sewer Commission and the Mayor and Council
of Salisbury, with respect to the matters provided for in said
Act, and the said Mayor and Council of Salisbury and the
Salisbury Water and Sewer Commission, shall, respectively
have and enjoy with respect to the proceeds of the sale of
the bonds to be issued and sold hereunder, all of the rights,
duties, powers and authority vested in the said Salisbury
Water and Sewer Commission and the Mayor and Council
of Salisbury under said Chapter of 494 of the Acts of 1924.

 

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Session Laws, 1927
Volume 569, Page 454   View pdf image (33K)
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