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Session Laws, 1939
Volume 581, Page 328   View pdf image (33K)
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328 LAWS OF MARYLAND. [CH. 191

66-D. Whenever, from time to time, the amount of
taxes collected in Betterton, Kent County, Maryland, shall
be insufficient to pay the One thousand ($. 1, 000. 00) dollars
due on the road bonds authorized by Act of Assembly of
1927, Chapter 529, and the interest thereon, The Commis-
sioners of Betterton are hereby authorized and empowered
to borrow on the faith and credit of said Town for the
payment on said bonds and the interest thereon for a
period of time not to exceed twelve months, a sum of money
not to exceed Fifteen hundred ($1, 500. 00) dollars for each
year until the year 1951 and to issue for said indebtedness
the note or notes of the said The Commissioners of Better-
ton, the said note or notes to be signed by The Commis-
sioners of Betterton, to bear interest from the date of its
or their issuance at a rate not exceeding six per centum
per annum and The Commissioners of Betterton are hereby
authorized to apply said sum or sums in each year until
the year 1951 for the purpose of making payments due
on said road bonds and the interest thereon in each year
until the year 1951; provided, however, that each note shall
be paid when due and shall not be renewed and no new note
shall be issued until the note of the previous year has been
paid in full and at no time may a sum in excess of Fifteen
hundred ($1, 500. 00) dollars and the interest thereon be
due and owing by the said The Commissioners of Betterton
upon a note or notes which may be issued hereunder,
whether said note or notes shall be original or renewal.

66-E. The said The Commissioners of Betterton in Kent
County, Maryland, are hereby authorized to discount said
note or notes, to sell the note or notes issued under the
Provisions of Section 66 either at public or private sale,
for the most money which can be obtained, for the same,
provided that no private sale of said note or notes shall be
for less than par, and if at public sale under such condi-
tions and terms as said The Commissioners of Betterton
may prescribe.

66-F. In order to pay the said note or notes which may
be issued from time to time under the provisions of the two
preceding Sections, together with interest thereon, The
Commissioners of Betterton are hereby authorized and
directed to pay the same out of the taxes collected in said
town of Betterton in the year in which said note or notes
may from time to time be issued and, or fall due, and if the
taxes so collected as aforesaid, shall be insufficient for the
purpose, the said The Commissioners of Betterton are
hereby authorized and directed to levy upon all the assess-


 

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Session Laws, 1939
Volume 581, Page 328   View pdf image (33K)
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