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Session Laws, 1949
Volume 590, Page 1775   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR. 1775

the bonds are presented by the Commission to them for en-
dorsement. At any time prior to the issuance of any such
bonds the County Commissioners are hereby authorized and
directed to furnish to the Commission a sum not exceeding
Five Thousand Dollars ($5, 000. 00), which shall be repaid out
of the first available moneys derived from the sale of the first
bonds issued, if any.

463F. For the purpose of retiring the bonds authorized to
be issued by this sub-title and of paying the interest thereon,
the Commission shall cause to be levied against all assessable
property within said sanitary districts for which said bonds
have been issued, by the County Commissioners of Allegany
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 conjunc-
tion 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 further funds then avail-
able for the purpose, to meet the interest on said bonds as it
becomes 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 Com-
mission the whole valuation of the assessable property within
each sanitary 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 pay-
ment 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 prin-
cipal on said bonds as hereinbefore and hereinafter in this
sub-title provided; it shall determine the number of cents
per $100. 00 necessary to raise the said amount for each such
sanitary 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 sanitary districts, which tax
shall be levied and collected and have the same priority
rights, 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 so1 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

 

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Session Laws, 1949
Volume 590, Page 1775   View pdf image (33K)
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