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Session Laws, 1929
Volume 572, Page 753   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 753

twenty (20) years from the date of issue, and under such con-
ditions as shall be determined by resolution by said Board of
County Commissioners; and provided that all of said bonds
shall mature and be redeemable not later than twenty (20)

years from the date of issue.

SEC. 3. And be it further enacted, That the said Board of
County Commissioners of Carroll County shall use for the
construction or permanent improvement of such public roads in
said county as the said Board of County Commissioners may
designate for construction or permanent improvement, such
sum or sums of money, derived from the issue and sale of said
bonds, as they may consider for the best interest of the county,
until the whole sum of Two Hundred Thousand Dollars ($200, -
000. 00) shall have been expended; and in the work to be done
upon said roads from the moneys hereby negotiated the said
Board of County Commissioners may, in its discretion, use
such monies as a separate, individual fund, or it may use the
same in connection with any State appropriation guaranteed
to the several counties of the State under existing laws, or in
connection with any other Act that may become a law appro-
priating other or further sums of money from the State to
the aid of the several counties for the purpose of the improve-
ment of the public roads in said county.

SEC. 4. And be it further enacted, That for the purpose
of redeeming said bonds at their maturity and for assuring
the prompt payment of the interest coupons, the said Board
of County Commissioners; shall for the year 1931 and annu-
ally thereafter until the maturity of the last of said bonds,
issued under the authority of this Act, levy a tax upon the
assessable property of said county sufficient to pay the annual
interest on said bonds sold and unredeemed; and also in addi-
tion thereto they shall for the year 1932 and annually there-
after, for the sinking fund, levy an amount which with ac-
cumulated interest thereon will enable them to meet and re-
deem the several series of bonds issued under the authority
of this Act, as they shall severally become due; it being the
intention of this Act that none of said bonds shall mature
before the first day of January, 1934.

SEC. 5. And be it further enacted, That the money annu-
ally levied for the sinking fund as provided in the preceding
section shall be deposited by the the Board of County Commis-


 

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Session Laws, 1929
Volume 572, Page 753   View pdf image (33K)
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