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Session Laws, 1963
Volume 671, Page 1736   View pdf image (33K)
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1736                             LAWS OF MARYLAND                        [CH. 817

the amount in hand to the credit of each bond fund, the County
Commissioners and the Commission shall first pay all interest and
principal of that series of bonds as it becomes due, and the residue
of the money credited to each series shall be retained in said account
for further payments of principal and interest on that series. The
Commission is authorized to pay the interest on any bonds it may
issue out of the proceeds of the bonds, but not more than one year's
interest may be so expended.

(c)  Special ad valorem taxes.Whenever any part of any exist-
ing facilities provided by the Commission shall need to be enlarged,
rebuilt or re-equipped whether due to increased use, obsolescence,
exhaustion or otherwise, and no new assessable front foot benefits
arise therefrom, or such as may arise do not represent all the bene-
fits of such new re-equipment or enlargement since it serves in whole
or in part territories already assessed on a front foot basis for the
service to which such new re-equipment or enlargement is an
improvement, then if the depreciation and other reserves applicable
to this plant improvement plus any newly assessable front foot bene-
fits (if any) are not sufficient to construct or finance such re-
equipment or enlargement, the Commission may certify to the Board
of County Commissioners the deficiency, the assessable value of the
district or sub-districts to be served by such re-equipment or enlarge-
ment and an ad valorem tax not to exceed ten cents (10¢) per One
Hundred Dollars ($100.00) of assessable value and the Board of
County Commissioners may levy such tax on the assessable property
within the district or sub-districts.

(d)  County wide ad valorem taxes.Should receipts from benefit
assessments, ad valorem taxes or other sources be inadequate to pay
the year's Sinking Fund increment on any series of bonds issued by
the Commission by reason of default or otherwise, such deficiency
may be added to and collected in the next year's tax or the County
Commissioners may levy against all taxable property in Wicomico
County a sum sufficient to make up the deficiency.

(e) Misuse of funds.In order that the prompt payment of interest
and the proper provision for the payment of principal of all bonds
issued by the Commission shall be assured, the prompt and proper
performance of the respective acts and duties heretofore defined
is specifically required, and any failure upon the part of any person,
persons, body corporate or agent to perform the necessary acts and
duties hereafter set forth, to pay over the funds as required, or to
use said funds or any part thereof for any other purposes than for
the payment of the principal and interest on said bonds, it is hereby
declared a misdemeanor and punishable as other misdemeanors are
punishable by Section 537 of this subtitle.

520. Bids, contracts.

Whenever the plans and specifications for the facilities and systems
necessary to provide the authorized urban service or services for any
district or sub-district shall have been completed, and the Commis-
sion shall have decided after holding the necessary hearing or hear-
ings and taking all other steps required by this subtitle to proceed
with the construction thereof, it shall advertise, by notice in one
newspaper published in said county and such newspapers and tech-
nical press as it may deem proper, for bids for the construction of


 

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Session Laws, 1963
Volume 671, Page 1736   View pdf image (33K)
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