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Session Laws, 1943
Volume 584, Page 344   View pdf image (33K)
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344 LAWS OF MARYLAND. [CH. 318

SEC. 3. And be it further enacted, That the proceeds arising
from the sale of said bonds shall be applied to the payment
and refunding of nine thousand dollars ($9, 000. 00) of the out-
standing notes, obligations and floating indebtedness due and
owing by the $aid the Mayor and Council of Pocomoke City.

SEC. 4. And be it further enacted, That for the purpose of
securing the prompt payment of all installments of interest
on said bonds as the same shall become due semi-annually as
aforesaid, and for the purpose of redeeming said bonds at
maturity or when called for payment at any interest paying
date, the Mayor and Council of Pocomoke City is hereby au-
thorized and directed to levy annually a tax upon the assess-
able property of the City of Pocomoke City in such sums as
may be necessary and sufficient to pay the interest on said
bonds semi-annually and to redeem said bonds. The proceeds
of such tax collected shall by the Mayor and Council of Poco-
moke City be placed to their order in some safe depository
as a separate and distinct fund, and by it only applied to the
payment of the interest and redemption of said bonds, when
and as soon as they shall become due and redeemable, and
when redeemed said bonds shall be cancelled, and said taxes
are pledged to the payment of the interest and principal of
said bonds, and can be used for no other purpose, except, that
when all of said bonds are paid, the balance if any in such
fund is to go into the general account of the said the Mayor
and Council of Pocomoke City.

SEC. 5. 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 being
passed upon by a yea and nay vote. supported by three-fifths
of all the members elected to each of the two Houses of the
General Assembly the same shall take effect from the date
of its passage.

Approved April 30, 1943.

CHAPTER 318.
(House Bill 457)

AN ACT to add a new section to Article 78A of the Annotated
Code of Maryland (1939 Edition), title "Public Works, Board
of", said new section to be known as Section 8A, and to fol-
low immediately after Section 8 of said Article, providing
that any Board, Commission, Department or other agency
of the State may, with certain restrictions and subject to

 

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Session Laws, 1943
Volume 584, Page 344   View pdf image (33K)
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