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Session Laws, 1949
Volume 590, Page 954   View pdf image (33K)
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954 LAWS OF MARYLAND. [CH. 398

the Board of County Commissioners, then said Board is
authorized and directed to pay any or all interest falling due
before the next tax levy out of any other funds at its disposal
and to include in the next levy the amount necessary to
reimburse such other funds. Should any of the persons desig-
nated to sign said bonds be unable for any reason to do so,
the Board of County Commissioners shall by resolution auth-
orize the execution thereof xby some other member or officer
of said Board, and such execution shall be valid and sufficient
for all purposes as if the bonds had been executed by the person
or persons originally designated therein. Should any person
signing said bond die or become incapacitated, or should he
cease to be an officer or a member of the Board, before the
delivery of the bonds, such signature shall nevertheless be
valid and sufficient for all purposes and shall be equally
effective to bind the Board of County Commissioners of Wor-
cester County as if delivery had been made before such death,
incapacity, or expiration, or other termination of the term
of office. All bonds issued under this Act and the interest
thereon shall be forever exempt from State, County and mu-
nicipal taxation in the State of Maryland.

SEC. 4. And be it further enacted, That for the purpose of
paying the principal and interest on said bonds as they re-
spectively mature and become payable the Board of County
Commissioners of Worcester County shall levy annually on
all the assessable property in Worcester County a tax suffici-
ent in rate and amount to pay the bonds maturing during
such year in accordance with the provisions thereof and to
pay interest on all of the bonds authorized by this Act,
which may be outstanding in such year, and the proceeds of
such levy when collected shall be used for the purpose and
for no other purpose than that for which such levy was
made. Said taxes shall be in addition to all other taxes au-
thorized by law and shall not be subject to any limitations
now existing or hereafter imposed upon the taxing power
of the Board of County Commissioners of Worcester County
and any law conflicting with the provisions of this Act is
hereby repealed, for the purpose of this Act, to the extent of
such inconsistency.

SEC. 5. And be it further enacted. That the proceeds from
the sale of said bonds, except as in this Act otherwise pro-
vided, shall be used exclusively for the specific purposes for
which said bonds have been issued, and for no other pur-
pose whatsoever, except that all expenses incurred in the
sale and delivery of the bonds shall be payable from said
funds; provided, however, that in case it shall not be neces-

 

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Session Laws, 1949
Volume 590, Page 954   View pdf image (33K)
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