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Session Laws, 1965
Volume 676, Page 517   View pdf image (33K)
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J. MILLARD TAWES, Governor                        517

Commission prior to the effective date of this Act and so long as
such bonds, notes or other obligations are outstanding the Commis-
sion is empowered to establish, fix and collect the front foot benefit
assessments authorized by the Acts of 1957, Chapter 287, Section
8, as amended by the Acts of 1961, Chapter 74,9, and to cause the
County Commissioners of Howard County to levy the taxes author-
ized by the Acts of 1957, Chapter 287, Section 6, on all assessable
property within the territorial limits of a former subdistrict in order
to pay the interest on and the principal of such bonds, notes or other
obligations issued to finance improvements in the subdistrict in
which said front foot benefit assessment is established or in which
said tax is levied.

130.

For the purpose of retiring the bonds authorized to be issued
by this subtitle and of paying the interest thereon, and for the
payment of salaries and other expenses of the Commission, the
Commission shall cause to be levied, against all assessable property
within said [subdistricts] Metropolitan District for which said
bonds have been issued, by the County Commissioners of Howard
County annually so long as any of said bonds are outstanding and
not paid, a tax sufficient to provide such sums, 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, as provided in Section 132 therefor levied
by it but not yet paid and any other 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 the said
salaries and expenses as aforesaid, and said tax shall be determined,
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 subdistrict] the Metropolitan 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 principal of all serial bonds maturing in
said year, and the said salaries and expenses as aforesaid, and
after deducting all amounts in hand or in contemplation applicable
to payments of interest and principal on said bonds, and said salaries
and expenses as aforesaid, as hereinbefore and hereinafter in the
subtitle provided, it shall determine the number of cents per
$100.00 necessary to raise the said amount for [each such sub-
district] the Metropolitan District and shall certify the same to
the Board of County Commissioners. The said County Commissioners
in their next annual levy shall levy said tax on all land and im-
provements and all other property assessed for county tax purposes
within the [respective subdistrict] Metropolitan District, which
tax shall be levied and collected and have the same priority right,
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 Commission shall
first pay all interest and principal on said bonds as it becomes due,

 

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Session Laws, 1965
Volume 676, Page 517   View pdf image (33K)
 Jump to  
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