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Session Laws, 1931
Volume 580, Page 511   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR.                  511

provided that any and all certificates of indebtedness issued
under the authority of this Act, or any renewal thereof shall
be paid or definite provision for payment made within thirty
months from date of issuance, otherwise the Board of County
Commissioners of Montgomery County are directed to include
a sufficient amount to redeem any and all certificates of in-
debtedness or renewals thereof that have been outstanding
thirty months or over in the next levy following such thirty-
month period, term, or maturity. The said Board is further
authorized and empowered to borrow upon the faith and credit
of said county and to issue certificates of indebtedness therefor
in the form above prescribed in the additional sum of one
hundred thousand ($100, 000) dollars at a rate of interest not
to exceed (6%) per annum, whenever through error or inad-
vertence any necessary item is omitted from the annual levy
for taxes or when a lesser amount is levied, or collected than
is in fact required in the opinion of the Board of County
Commissioners to meet the obligations and expenses necessary
to protect the health, morals, safety and welfare of the people
of the county; provided that no part of said latter sum of
one hundred thousand ($100, 000) dollars shall be borrowed
for a longer period than the termination of the terms of the
members of the Board authorizing such loan, and the said
Board shall include annually in the levy of taxes in Mont-
gomery County such sum or sums as may be necessary to pay
any and all certificates of indebtedness so issued, together with
interest thereon, maturing prior to the date of the next annual
levy, and the failure of any member of said Board to vote
for the inclusion in the levy of an amount necessary to so
redeem and pay any certificates falling due prior to the expira-
tion of his term of office or voting. to issue any certificates
maturing beyond the period of his term of office shall consti-
tute a misdemeanor and any such member violating this pro-
vision upon conviction shall be fined a sum not to exceed one
thousand dollars ($1, 000. 00) and shall be ineligible thereafter
to hold office as County Commissioner.

238. The County Commissioners are hereby further au-
thorized and empowered to expend any money borrowed under
the provisions of this Act for the purpose of building or con-
structing any permanent improvement for the county purposes,
provided that such improvement shall have been determined
"by resolution of a majority of the County Commissioners to

 

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Session Laws, 1931
Volume 580, Page 511   View pdf image (33K)
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