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Session Laws, 1949
Volume 590, Page 76   View pdf image (33K)
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76 LAWS OF MARYLAND. [CH. 71

described in the report of the drainage viewers and con-
firmed by the County Commissioners, as provided in Sec-
tion 67, the Board of Managers shall have the power to
issue and sell bonds or notes for an amount not exceed-
ing the total cost of the improvements as hereinafter
provided.

(b) The Board of Managers shall give notice once a
week for three weeks by publication in some newspaper
published in the county in which the drainage area or
some part thereof is situated, if there be such a news-
paper, and also by posting a notice at the door of the
courthouse of such county and at five conspicuous places
in the drainage area, reciting? the fact that they propose
to issue bonds or notes for the payment of the cost of the
improvement, giving the amount of bonds or notes to be
issued, the rate of interest that they are to bear or the
method of determining the same, and the time when pay-
able. Any taxable may within fifteen days after the
publication or posting of such notice pay to the County
Treasurer the full amount for which his land is liable,
to be ascertained from the report of the drainage viewers,
and have his lands and himself relieved from further
liability for this particular improvement. Prior to issu-
ing any bonds or notes under this section, the Board of
Managers shall deduct from the estimated amount of
bonds or notes to be issued, the amount or amounts so
paid in advance, and shall issue bonds or notes only in
this decreased amount. Any amount or amounts so paid
in advance to the County Treasurer shall be held by him in
a separate fund, to be added to the proceeds of the bonds
or notes issued and to be expended with such proceeds to
carry out the plan of drainage improvements.

(c) The Board of Managers shall certify to the County
Commissioners the amount of bonds or notes which are
to be issued. Along with such certification the Board of
Managers shall submit a drainage tax roll, of all prop-
erties for which payments have not been made, showing
for each taxable the full amount, less interest, for which
his land is liable. The total of these amounts for the
several taxables shall equal the amount so certified to the
County Commissioners.

(d) The Board of Managers shall thereupon proceed
to issue bonds or notes, in the amount which has been
certified to the County Commissioners. All bonds or notes
issued under this) section shall be sold under the serial
maturity plan and shall have a maturity date not over

 

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Session Laws, 1949
Volume 590, Page 76   View pdf image (33K)
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