THEODORE R. MCKELDIN, GOVERNOR 299
sale of said bonds, including legal expenses, shall be paid
from the proceeds of the sale of said bonds. Provided,
however, that any balance of the proceeds of said bond issue
not required for the purposes hereinbefore specified shall
be applied to the redemption of said bonds.
SEC. 3. And be it further enacted, That The City of
Salisbury is hereby empowered to apply any surplus reve-
nues of the water department and sewer department of the
City 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 severally become due from* time to time.
In any year that any of said bonds are outstanding, and any
deficiency exists in the amount of the aforesaid surplus
revenues available for the payment of the maturing princi-
pal and interest of said bonds, The City of Salisbury shall
levy upon all the assessable property liable to taxation in
the City at the regular tax levying period an amount
sufficient to meet and pay the interest maturing on said
bonds during any such year and to meet and pay the princi-
pal of said bonds maturing during any such year, 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 used for
the payment of said interest and principal and for no other
purpose whatsoever.
SEC. 4. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the
immediate preservation of the public health and safety, and
having been passed by a yea and nay vote, supported by
three-fifths of all the members elected to each of the two
Houses of the General Assembly of Maryland, the same
shall take effect from the date of its passage.
Approved March 27, 1953.
CHAPTER 148
(House Bill 471)
AN ACT to repeal Chapter 8 of the Acts of the General
Assembly of Maryland of 1952 and to re-enact the pro-
——————
EXPLANATION: Italics indicate new matter added to existing law.
[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.
|