HARRY W. NICE, GOVERNOR. 1117
firmed, and declared to be the valid, binding and subsisting
general obligations of the County Commissioners of Mont-
gomery County, issued upon its full faith and credit.
SEC. 8. And be it further enacted, That for the purpose
of paying the interest on the bonds authorized to be issued
pursuant to the provisions of this Act, and for paying the
bonds themselves as they respectively mature and are
payable after the issue and sale thereof under the provi-
sions of this Act, the County Commissioners of Montgom-
ery County shall annually until all of said bonds issued un-
der the provisions of this Act, shall have matured and been
paid, levy a tax upon all the assessable property in said
county, sufficient to pay the annual interest on all of said
bonds that may be issued and outstanding, as said interest
becomes due and payable, and also a tax in each year
upon all of said assessable property in said county, suffi-
cient to pay the principal of said bonds as they respectively
mature and are due and payable, which tax shall be in addi-
tion to all other taxes authorized or limited by law.
SEC. 9. And be it further enacted, That in the event
any of the bonds, notes or other obligations hereinabove in
Section 5 referred to, have been heretofore or shall here-
after be retired or paid out of the general or special funds
of the county, or from any other source, then the total
aggregate amount of the bonds authorized to be issued
and sold pursuant to the provisions of Section 1 (a) of this
Act shall be reduced by the amount of the bonds, notes or
other obligations so retired or paid, provided, however, that
in the event the Board of County Commissioners of Mont-
gomery County have heretofore or shall hereafter advance
from the general funds of the county sums sufficient to
provide for the temporary payment of the bonds, notes or
other obligations hereinabove in Section 5 referred to in
anticipation of the sale of the bonds hereinabove authorized
by Section 1 (a) of this Act, then the authority to issue and
sell the bonds authorized to be issued and sold pursuant to
the provisions of Section 1 (a) of this Act shall continue
in full and the proceeds of the sale of so much of said bonds
as may be issued to provide funds for the refunding of
the bonds, notes or other obligations already paid, as here-
inabove recited, shall be paid back into the general funds
of the county in order to reimburse the same for the
advances so made.
SEC. 10. And be it further enacted, That this Act is
hereby declared to be an emergency law and necessary for
|
![clear space](../../../images/clear.gif) |