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Session Laws, 1957
Volume 640, Page 1515   View pdf image (33K)
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Theodore R. McKeldin, Governor                   1515

hearing by advertisement published in one newspaper published
within the County, and by personal notices addressed to any one or
more persons whose names are signed to said petition. After due
hearing as aforesaid, the Commission shall decide upon the reason-
ableness of the objections stated in the petition; and shall dispose
of the same by written order concurred in by a majority of the Com-
missioners, which order shall be published in the same manner as
notices are herein required to be published and a copy of which shall
be mailed to any one or more of the petitioners. If the petitioners
are not satisfied with the Commission's decision, they shall have the
right to take and enter, within ten days after the last publication of
said order as aforesaid, an appeal to the County Commissioners of
St. Mary's County, who shall review the Commission's decision and
decide as to the necessity and propriety of the improvement con-
templated and whether the district can stand the cost of the same;
and the decision of the County Commissioners shall be final.

179. For the purpose of providing funds for the design, construc-
tion, establishment, purchase or condemnation of water supply, sew-
erage, and drainage systems in any of the sanitary districts, said
Commission is authorized and empowered to issue bonds, from time
to time upon the full faith and credit of St. Mary's County, in such
amounts as it may deem to be necessary to carry on its work, but at
no time shall the total issue of bonds in any sanitary district for all
purposes under this sub-title exceed ten per centum of the total value
of the property assessed for county taxation purposes within said
sanitary district. Said bonds shall be serial bonds issued upon the
serial maturing plan and in such denominations as shall be deter-
mined by the Commission, said bonds may be redeemable before
maturity at the option of the Commission at such price and under
such terms and conditions as may be fixed by the Commission prior
to the issuance of said bonds, shall bear interest at a rate not exceed-
ing four per centum per annum, payable semi-annually, and shall
mature in not more than thirty years after date of issue and shall
be forever exempt from State, city and county taxation. They shall
be issued under the signature and seal of the Commission and shall be
guaranteed as to payment of principal and interest by the County
Commissioners of St. Mary's County, which guarantee shall be en-
dorsed on each of said bonds in the following language: "The pay-
ment of interest when due and the principal at maturity is guaran-
teed by St. Mary's County, Maryland." Such endorsement shall be
signed on each of said bonds by the President and by the Clerk of
the Board of County Commissioners of said County within ten days
after the bonds are presented by the Commission to them for endorse-
ment. At any time prior to the issuance of any such bonds the
County Commissioners are hereby authorized and directed to furnish
to the Commission a sum not exceeding Five Thousand Dollars
($5,000.00), which shall be repaid out of the first available moneys
derived from the sale of the first bonds issued, if any.

180. For the purpose of retiring the bonds authorized to be issued
by this sub-title and of paying the interest thereon, the Commission
shall cause to be levied, against all assessable property within said
sanitary districts for which said bonds have been issued, by the
County Commissioners of St. Mary's County annually so long as any
of said bonds are outstanding and not paid, a tax sufficient to pro-
vide such sum as the Commission may deem sufficient and necessary,


 

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Session Laws, 1957
Volume 640, Page 1515   View pdf image (33K)
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