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Session Laws, 1945
Volume 589, Page 661   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 661

of the Howard County Metropolitan Commission and the
manner and method of the financing thereof.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 6 of Chapter 991 of the Acts of 1943, be,
and the same is hereby repealed and re-enacted, with amend-
ments, to read as follows:

6. That for the purpose of retiring the bonds authorized to
be issued by this Act and of paying the interest thereon, the
Commission shall cause to be levied, against all assessable
property within said sub-districts for which said bonds have
been issued, by the County Commissioners of Howard County
annually so long as any of said bonds are outstanding and not
paid, a tax sufficient to provide such sum, as the Commission
may deem sufficient and necessary, in conjunction with any
amounts, as the Commission may estimate that it will be able
to collect out of the benefit assessments therefor levied by
it but not yet paid and any other funds then available for
the purpose, to meet the interest on said bonds as it be-
comes due and to pay the principal thereof as the bonds
mature, and said tax shall be determined, levied, collected and
paid over in the manner following, that is to say, at least sixty
days before the tax levying period of each year, the County
Commissioners shall certify to the Metropolitan Commission
the whole valuation of the assessable property within each sub-
district. The Commission shall then determine in the manner
above prescribed the amount which it deems necessary to be
raised during the ensuing year for the payment of interest and
principal of all serial bonds maturing in said year, and after
deducting all amounts in hand or in contemplation applicable
to payments of interest and principal on said bonds as here-
inbefore and hereinafter in the Act provided, it shall deter-
mine the number of cents per $100. 00 necessary to raise the
said amount for each such sub-district and shall certify the
same to the Board of County Commissioners. The said County
Commissioners in their next annual levy shall levy said tax
on all land and improvements and all other property assessed
for county tax purposes within the respective sub-district,
which tax shall be levied and collected and have the same
priority right, bear the same interest and penalties and in
every respect be treated the same as county taxes. The tax
so levied for the ensuing year shall be collected by the tax
collecting authorities and every sixty days they shall remit
the whole amount of the tax so collected to the Commission.
From the money so received, together with the amount in hand
to the credit of said bond fund, the Commission shall first pay
all interest and principal on said bonds as it becomes due, and

 

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Session Laws, 1945
Volume 589, Page 661   View pdf image (33K)
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