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Session Laws, 1931
Volume 580, Page 222   View pdf image (33K)
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222                         LAWS OF MARYLAND.                 [CH. 105

of the funds so allocated to Allegany County as aforesaid shall
be used for the redemption or purchase by the Treasurer of Alle-
gany County, as hereinbefore provided, of such bonds as may be
outstanding. And the State Roads Commission shall not, in
any year, expend or incur any obligations against any of said
funds so credited, allocated or set aside for use in Allegany
County, unless there has first been paid from said funds, or any
of them, to the Treasurer of Allegany County seventy-five
percentum thereof per annum until all of the bonds issued
under authority of this Act shall have been redeemed.

In the event, that through amendments of existing laws, or
a reduction of receipts or appropriations for road construction
and improvement, the funds so allocated to or set aside for use
in Allegany County by the State Roads Commission shall not
be sufficient to redeem said bonds as they mature, then the
County Commissioners of Allegany County shall annually levy
a tax upon the assessable property in said county sufficient,,
with such payments as are made by or under the order of the
State Roads Commission, to redeem said bonds as they mature
and become due; and in the event that no payments are made
by or under the order of the State Roads Commission, then
the County Commissioners of Allegany County shall levy a
tax sufficient to pay all of said bonds as they mature or be-
come due; said taxes to be collected as other taxes levied in
said county are collected.

SEC. 7. And be it further enacted, That no purchaser of
any of the bonds authorized by this Act, and no holder thereof
for value and in good faith, shall be bound to see to the appli-
cation of the purchase money of said bonds, and the rights of
the holder of said bonds to receive the payment of the prin-
cipal and interest thereon shall not be affected by the failure
of the said County Commissioners or their officers or agents,
or the State Roads Commission or its officers or agents to' do-
any of the acts provided for by the terms of this Act,

SEC. 8. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and having
been passed by a yea and nay vote, supported, by three-fifths
of all of the members elected to each of the two houses of the
General Assembly of Maryland, the same shall take effect from
the date of its passage.

Approved April 6, 1931.

 

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Session Laws, 1931
Volume 580, Page 222   View pdf image (33K)
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