|
|
|
|
|
|
|
|
|
|
|
|
|
2214 LAWS OF MARYLAND Ch. 675
rate of State tax on each [one hundred dollars ($100)] $100 of
assessable property necessary to produce revenues to meet all
interest and principal which will be payable to the close of the
next ensuing taxable year on all certificates theretofore issued
or theretofore authorized by resolution of the Board of Public
Works to be issued, and the governing bodies of each of the
counties and Baltimore City shall forthwith levy and collect such
tax at such rate. All matters committed by this subtitle to the
discretion of the Board of Public Works shall be determined by a
majority of said Board.
(g) In anticipation of the receipt of the proceeds of the
sale of the certificates of indebtedness authorized by this
section, the Authority may borrow money at one time or from time
to time for the purpose for which said certificates of
indebtedness are to be issued, and to provide funds for paying
the current expenses of the Authority prior to the time when
moneys will be available for such purpose, under the provisions of
this section, and issue its anticipation notes for the moneys so
borrowed. Such notes may be renewed or extended from time to
time. All such notes shall be signed by the State Treasurer and
by the chairman of the Authority or with a facsimile signature of
said chairman and countersigned by the State Comptroller, and a
facsimile of the official seal of the Authority shall be
imprinted on the notes and attested by the secretary-treasurer of
the Authority. Upon the issuance of said certificates of
indebtedness a sufficient amount of the proceeds thereof
(excluding accrued interest) shall be applied to the payment of
such notes.
(h) After all principal of and interest on all revenue
bonds issued under the authority of § 420 of this subtitle shall
have been paid in full, and market AND PARK revenues are no
longer obligated in whole or in part to the payment thereof, the
Authority shall continue to remain in existence, and shall
thenceforth pay over to the Comptroller of the State of Maryland
out of market AND PARK revenues the amount of any taxes levied
and collected by the State of Maryland under subsection (f) of
this section for the payment of interest on and principal of the
general [obligations] OBLIGATION bonds authorized by this
section; and further provided that in the event the Authority
acquires the property of the New Marsh Wholesale Produce Market
Authority and assumes all the duties, obligations and liabilities
thereof as provided in § 415 of this subtitle, the Authority
shall continue to hold all of its property and shall continue to
remain in existence as aforesaid until it has paid over to the
Comptroller of the State of Maryland out of market AND PARK
revenues as aforesaid the amount of any taxes levied and
collected by the State of Maryland under Chapter 845 of the Laws
of Maryland of 1957 for the payment of interest on and the
principal of the bonds issued by the New Marsh Wholesale Produce
Market Authority.
420.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
