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Session Laws, 1931
Volume 580, Page 1286   View pdf image (33K)
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1286                        LAWS OF MARYLAND.                  |_Ch. 512

(b) The remainder of the proceeds from the sale of the said
bonds shall be paid over to the treasurer of Dorchester County
and deposited by him in a special account in such bank or
banks as the said Board of County Commissioners of Dor-
chester County may determine. The money shall be used ex-
clusively for the construction and improvement of roads and
bridges in Dorchester County by the State Roads Commission
of Maryland, and for the purchase and acquisition of land,
rights of way and for any necessary expenses incident to the
construction and improvement of roads and bridges by the
State. Roads Commission in said county. Payments out of
the proceeds from the sale of bonds shall be made from time
to time by the treasurer on proper vouchers, presented to him
by the State Roads Commission.

SEC. 5. And be it further enacted, That for the purpose of
paying the interest on said bonds, the Board of County Com-
missioners of Dorchester County shall, for the year 1931, and
annually thereafter until all of said bonds issued under the
authority of this Act shall mature and be redeemed, levy a tax
upon the assessable property in said county sufficient to pay
the annual interest on said bonds outstanding, said taxes to be
collected as other taxes levied in said county are collected.

SEC. 6. And be it further enacted. That for the purpose of
redeeming said bonds as they mature the Board of County
Commissioners of Dorchester County shall annually levy a tax
upon the assessable property in said county sufficient to re-
deem said bonds as they mature and become due, making due
allowance in such levy for any sum or sums which shall have
been received by the said County Commissioners from the
State Roads Commission and specially set aside for the re-
demption of any such bonds at maturity.

SEC. 7. And be it further enacted, That in each and every
year in which said bonds shall mature as set forth in Section
2 of this Act, the State Roads Commission shall pay over to
the County Commissioners of Dorchester County for the pur-
pose of redeeming said bonds, as they mature, such sums as
shall equal not less than 75 per cent, of all funds accruing to
Dorchester County from the State Roads Commission for
"Lateral and Post Road" construction purposes.

SEC. 8. And be it further enacted, That no purchaser of
any of the bonds authorized by this Act and no holder thereof

 

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Session Laws, 1931
Volume 580, Page 1286   View pdf image (33K)
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