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Session Laws, 1981
Volume 741, Page 3092   View pdf image
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3092                                   LAWS OF MARYLAND                                 Ch. 805

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 [said] funds as required, or to use
[said] THE funds or any part thereof for any other purpose
than for the payment of the principal and interest on [said]
THE bonds and notes, is hereby declared a misdemeanor and
punishable as other misdemeanors are punishable by section
[83-108] 18-7.

4-6. Water service charges for retirement.

[Said] THE commission shall annually determine the
amount necessary to pay the principal and interest
requirements of [said] THE bonds, and shall annually fix the
water service charge of [said] THE district at such a sum as
to produce, in addition to the costs of [said] THE service,
and the requirements of any other bonds issued and
outstanding the annual requirements of which are to be paid
out of [said] THE water service, the amount determined as
necessary to pay the annual requirements of the bonds hereby
authorized. The sum so collected annually from water
service charges shall be deducted from the amount which the
commission has determined to be necessary to be raised by
direct taxation upon certification to the county
commissioners of [said] THE counties.

4-7. Current bond fund.

All sums collected by [said] THE commission for
benefits levied against property for water supply, sewerage
and drainage construction, as provided in section [83-71]
5-1, shall be set aside as a separate fund to. be known and
designated as the "current bond fund," from which fund
interest shall be paid on all outstanding bonds, and the
balance of [said] THE fund shall be prorated monthly, and
applied to the payment of the principal of maturing serial
bonds and the payment into the joint "sinking fund" account,
as provided under section [83-67] 4-5, of the proportionate
part of the principal of outstanding sinking fund bonds as
the outstanding par value of both types of bonds bear to
each other. [Said] THE commission, in order to determine
the amount necessary to be levied under section [83-67] 4-5,
shall deduct the amount to its credit in [said] THE "current
bond fund" account from the whole amount necessary to be
raised in any one year for interest on all of its
outstanding bonds, the payment of the principal of its
maturing serial bonds and the proportionate part of
principal of all outstanding sinking fund bonds, and the
balance remaining to be raised shall be the amount to be
certified to the county commissioners of Montgomery and
Prince George's counties for collection by taxation as
provided under section [83-67] 4-5.

4-8. Bond anticipation notes generally.

(a) The Washington Suburban Sanitary Commission, on
behalf of the Washington Suburban Sanitary District, at any

 

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Session Laws, 1981
Volume 741, Page 3092   View pdf image
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