Theodore R. McKeldin, Governor 1339
each of said bonds in the following language: "The payment of inter-
est when due and the principal at maturity is guaranteed by Harford
County, Maryland". Such endorsement shall be signed on each of
said bonds by the President or Vice-President of said Board of
County Commissioners of said county within ten days after the bonds
are presented by the Commission to them for endorsement. At any
time prior to the issuance of any such bonds the County Commis-
sioners are hereby authorized and directed to furnish to the Com-
mission a sum not exceeding [Five Thousand Dollars ($5,000.00)]
Twenty-five Thousand Dollars ($25,000.00), . FOR THE PURPOSE
OF PROVIDING FOR THE ORGANIZATION AND PRELIMI-
NARY EXPENSES OF ANY NEWLY CONSTITUTED SANI-
TARY DISTRICT OR FOR CONTRIBUTING TO ITS INITIAL
CONSTRUCTION COSTS, THE BOARD OF COUNTY COMMIS-
SIONERS IN ITS DISCRETION MAY FURNISH THE COMMIS-
SION WITH A SUM OF MONEY NOT EXCEEDING TWENTY-
FIVE THOUSAND DOLLARS ($25,000.00), which shall be repaid
out of the first available moneys derived from the sale of the first
bonds issued, if any. In the event that the funds available to the
Harford County Metropolitan Commission from all sources are
insufficient to pay any bonds issued hereto, then the County Com-
missioners of Harford County in the next succeeding fiscal year shall
levy and collect a tax under its general powers of property taxation
sufficient to pay said bonds, together with accrued interest to the
date of payment.
430L. All sums collected by the Commission for benefits levied
against the property for water supply, sewerage or drainage con-
struction shall be set aside as a separate fund to be known and desig-
nated as the Metropolitan District account. The Commission, in order
to determine the amount which it may deem necessary to be levied
under Section [6] 430F shall deduct such amount as the Commis-
sion may estimate that it will be able to collect out of the benefits
theretofore levied by it but not yet paid, from the whole amount neces-
sary to be raised in any one year for interest and principal payments
on outstanding bonds, and the balance then remaining to be raised
shall be the amount to be certified to the County Commissioners of
Harford County for collection by taxation as provided by Section
430F.
Sec. 2. Be it further enacted, That this Act shall take effect
June 1, 1957.
Approved April 15, 1957.
CHAPTER 747
(Senate Bill 439)
AN ACT to repeal and re-enact, with amendments, sub-sections (3)
and (4) of Section 161 of Article 81 of the Annotated Code of
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.
|