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Session Laws, 1961
Volume 654, Page 557   View pdf image (33K)
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J. MILLARD TAWES, GOVERNOR                            557

balance of said proceeds shall be retained by the county treasurer
until needed to pay for the purposes specified in Section 1 hereof.
Said payments for the aforesaid purposes, and for no other purposes
shall be made from time to time by the county treasurer to the Board
of Education of St. Mary's County upon the order of the County Com-
missioners of St. Mary's County. Said county commissioners shall not
issue any such order except upon written notification from said Board
of Education that in its best judgment and discretion an expenditure
for any of the aforesaid purposes is necessary, such notification set-
ting forth the approximate amount of each expenditure and the spe-
cific use to be made of it. Said board of education shall receive and
expend the money so paid to it only for the purposes authorized by
Section 1 hereof, and said board shall account for said money so paid
to it and the expenditures thereof in the same manner as it accounts
for other moneys passing through its hands.

Sec. 5. And be it further enacted, That for the purpose of paying
the maturing principal of and interest on any bonds issued pursuant
to the authority of this act, and for the purpose of redeeming said
bonds prior to their respective maturities, the county commissioners
of St. Mary's County shall levy annually upon all property within the
corporate limits of said county, assessable for unlimited taxation,
ad valorem taxes in rate and amount sufficient to provide for said
purposes. In the event any such issue of bonds are sold as term bonds,
payable all at one time, said county commissioners of St. Mary's
County shall, by the resolution authorizing said bonds, establish a
sinking fund in the custody and control of the county treasurer, and
thereafter said county shall annually levy the ad valorem taxes above
prescribed in rate and amount sufficient to pay the interest on said
bonds, due in each year, and sufficient to pay into such sinking fund
annual deposits, which together with any earning of such sinking
fund or increments thereon, will be sufficient to provide for the pay-
ment in full of the principal of said term bonds at maturity. In
addition, the county commissioners of St. Mary's County are hereby
authorized and empowered to utilize for the payment of any such
principal and interest any part not previously pledged of any moneys
received by the Board of Education of St. Mary's County from the
State of Maryland under the provisions of Section 222 of Article 77
of the Annotated Code of Maryland (1957 Edition), providing for an
incentive fund for school construction, as such section may be
amended from time to time.

Sec. 6. And be it further enacted, That before any bonds shall be
issued in St. Mary's County, under the provisions of this act, the
question of such issue shall first be submitted to the qualified voters
of said county and approved by the majority of the qualified voters
voting thereon. Said election shall take place within 90 days after
the effective date of this bill, and the
BE HELD AT THE SAME
TIME AND IN CONJUNCTION WITH THE BALLOTING AT
THE GENERAL ELECTION TO BE HELD IN NOVEMBER, 1962.
THE board of election supervisors of St. Mary's County are hereby
authorized and empowered to determine the time, place or places, and
THE manner for the submission of any such question to the quali-
fied voters and for voting thereon, and for ascertaining the results.
In connection with said election there shall be printed on the ballot
or voting machines to be used at said election the title of this act,
and underneath said title on separate lines a square or box to the

 

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Session Laws, 1961
Volume 654, Page 557   View pdf image (33K)
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