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Session Laws, 1957
Volume 640, Page 1353   View pdf image (33K)
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Theodore R. McKeldin, Governor                    1353

dent 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. For the purpose of providing
for the organization and preliminary expenses of any newly con-
stituted sanitary district or for contributing to its initial construction
costs, the Board of County Commissioners in its discretion may fur-
nish the Commission 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 Charles County
Metropolitan Commission from all sources are insufficient to pay any
bonds issued hereto, then the County Commissioners of Charles
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.

204F. For the purpose of retiring the bonds authorized to be
issued by this sub-title and of paying the interest thereon, the Com-
mission shall cause to be levied, against all assessable property
within said sanitary districts for which said bonds have been issued,
by the said Commissioners 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 conjunction 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 available 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 deter-
mined, 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
Commission 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 payment of interest and prin-
cipal of all serial bonds maturing in said year, and after deducting
all amounts in hand or in contemplation applicable to payments of
interest and principal on said bonds as hereinbefore and hereinafter
in the 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 Commis-
sioners. The said County Commissioners in their next annual levy
shall levy said tax on all land and improvements and all other prop-
erty assessed for county tax purposes within the respective sanitary
district, 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
so collected to the Commission. From the money so received, together
with the amount in hand to the credit of said bond fund, the Com-
mission shall first pay all interest and principal on said bonds as it
becomes due, and shall then deposit the residue of said moneys in
some bank or banks in said county to the joint credit of the County
Commissioners and the Commission. The Commission is authorized
to pay the interest on any bonds it may issue out of the proceeds of


 

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Session Laws, 1957
Volume 640, Page 1353   View pdf image (33K)
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