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Session Laws, 1931
Volume 580, Page 1167   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR.                1167

been set aside by a judgment or decree, the Board may upon
the discovery of said error, inadvertence, oversight or within
a reasonable time after the rendition of said judgment or
decree levy the front foot benefit charge and said front foot
benefit charge shall thereupon run for the period of years for
which it would have run if levied at the proper time or in the
proper manner; and this section shall apply to all errors,
omissions or mistakes heretofore made by said Board, or to
any judgment or decree heretofore rendered.

To carry out the provisions of this section the said Board
of County Commissioners of Montgomery County is hereby
given power and authority (in addition to such power and
authority to borrow money as is conferred upon said Board
elsewhere in this Act) to borrow such additional sums from
time to time upon the faith and credit of said county as may
be needed for the purposes set forth in this, section and to issue
negotiable certificates as evidence of such indebtedness. Such
certificates of indebtedness shall be in registered or coupon
form, shall be issued in denominations of one hundred dollars
($100. 00) or any multiple thereof, shall bear interest at a rate
not exceeding six per centum (6%) per annum, payable semi-
annually, and shall mature in not exceeding five (5) years;
from the date of issue, or may be retired serially, as said
Board shall determine, and shall be exempt from all State,,
county and municipal taxes. Said certificates shall be desig-
nated as "Montgomery County Suburban District Certificates:
of Indebtedness" and shall be sold from time to time by said
Board in such manner as it shall determine, provided that the
same shall not be sold at less than par and accrued interest.
All sums so borrowed shall be kept in a separate account to
be known as "The Street Improvement Account. " The sums
arising from the special assessments provided for in this sec-
tion shall constitute the primary fund for the payment of the
interest on and the retirement of said certificates of indebted-
ness and shall be applied in the manner hereinafter provided.
The payment of interest on and the retirement of said certifi-
cates of indebtedness shall be provided for in the following
manner. At least thirty (30) days before the regular annual
levy date the said County Commissioners in each year shall
estimate the amount necessary to pay the interest on all out-
standing certificates for the ensuing year plus such amount
as may be necessary to retire all such certificates maturing
during the year for which the taxes are levied, or to provide

 

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Session Laws, 1931
Volume 580, Page 1167   View pdf image (33K)
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