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Session Laws, 1945
Volume 589, Page 1132   View pdf image (33K)
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1132 LAWS OF MARYLAND. [CH. 890

tached thereto, attested by the Clerk of Salisbury, and if
coupon bonds, the coupons thereon shall be signed by the Clerk
of Salisbury, or a facsimile, of his signature shall be stamped,
printed, or engraved thereon. Said bonds, when signed and
attested as heretofore directed, shall be delivered to the Clerk
of Salisbury, and the bond of said Clerk of Salisbury shall
be responsible for the safekeeping of said bonds and the pro-
ceeds thereof. The Clerk of Salisbury shall sell said bonds at
public auction or by sealed bids, after giving at least two
weeks' notice thereof in one or more newspapers published in
the City of Salisbury, and in one or more newspapers pub-
lished in the City of Baltimore, under the supervision of and at
such time and in such amounts as the Mayor and Council of
Salisbury shall order, but no bonds shall be sold by sealed
bids, except at prices approved by the Mayor and Council of
Salisbury. The said Clerk of Salisbury shall deliver said
bonds so sold to the purchaser or purchasers thereof, and re-
ceive the money therefor, including any premiums thereon, and
shall report under oath to the Mayor and Council of Salisbury
his proceedings in the premises as soon as possible after said
sale, with the name or names of the purchasers to whom said
bonds have been sold and delivered, together with the amount
received for the bonds so sold, and said money, including said
premiums, if any, shall be immediately credited by the Clerk
of Salisbury on his books to the "Salisbury, Maryland, In-
cinerator & Sewage Treatment Plant Bonds", to be applied
only for the purposes specified in this Act. Provided, how-
ever, that any balance of the proceeds of said bond issue not
required for the purposes hereinbefore specified shall be ap-
plied to the sinking fund or for the redemption of said bonds.

SEC. 3. And be it further enacted, That the Mayor and
Council of Salisbury shall annually levy upon all the assess-
able property liable to taxation in the City of Salisbury at the
regular tax levying period an amount sufficient to meet and
pay the interest on said bonds so issued and outstanding, and
to meet and pay the principal of said bonds as they shall sev-
erally become due from time to time, which tax shall be levied
and collected, and shall have the same. priority rights, bear the
same interest and penalties and in every respect be treated the
same as other city taxes now are. Said amount so levied and
collected shall be kept in a separate fund for the payment of
said interest and principal and for no other purpose whatso-
ever.

SEC. 4. And be it further enacted. That Fred A. Grier, Jr.,
Henry W. Roberts, John E. Morris, George B. Chandler and
Avery W. Hall, all of the City of Salisbury, be and they are
hereby appointed to expend the proceeds from the bonds au-

 

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Session Laws, 1945
Volume 589, Page 1132   View pdf image (33K)
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