Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1902-05-08
Public Local Laws.

said Bonds at public auction to the
highest bidder for Cash after giving
not less than Twenty days notice OF
such sale by advertisement inserted
in one or more newspapers publish
ed in the Cities of Baltimore and
Washington, also in the st. Mary
Beacon and st. Marys Enterprise
and such other notice as they may
deem necessary; Provided, that said
Bonds shall not be sold for less than
their par value, and that any prem
ium that may be derirvd from their |
sale shall be applied to the payment |
OF theinteresttirst accruing thereon,
Section 3. And be il enacted that |
the money arising from the sale OF |
said Bonds excepting the Premium
as aforesaid, shall be applied as far
as may be necessary tothe payment
of the indebtedness incurred by said
Commissioners in the erection and
furnishing OF the Court House IN
said County. and the balance, after
paying the expenses incident to the
issue and sale Of said Bonds, shall
1 be applied To other improvements IN
connection with said Court House or
Court House grounds,
Section 4. And be itenacted, that
| the said County Commissioners shall
levy annually upon the assessable
property Of said county such sum OF
money as may be required to pay
the interest on said Bonds as it may
become due and also the principle
Of said Bonds OF their maturity; and
| II required 10 levy IN order to pay
the principle Of said Bonds, they
shall in addition 20 the sum required
for the payment of the interest, an
nually levy sum oil money, which
being invested or deposited as here
matter required, viii produce sui
ticieut fund for the payment OF the
principle Of said Bonds as the same
may become due and payable Pro.
vidcd that after the present Bonded
Indebtedness of said County author
I lied bv Chapter 407 81 the Acts OF
, the Assembly passed IN 1884 mas
. been cXtinguishcd that The balance
, ~ the money that may boz 10 The
. hands Of the County Commissioners
derived from the sale of Liquor 10.
/ eenees in said County together,
. with the amount OF money that may
/, bc thereafter annually received 10y
. said County Comm SsiunDrs from
. said licences, shall first be- applied
q 10 the payment 81 the interest and
principlrof the Bonds authorized by
, this Act aud. for she purpose o
~ creating sinking fund for the pay
- men; of said Bonds az their maturity
/. any amount Of money that may DO 50
y -ioucrs. derived either from sai,
,. liquor licences or from a levy upon
II the asscssablc property said Couu
/. ~, authorized by this Act which
d may not nt the time be necessary
h for the payment 81 the interest o
Ia principle Of said Bonds. shall be In
a United States, the State OF Marylau,
% or any County thereof, The City d
~ Baltimore, or IN The purchase an,
,e cancellation 81 the Bonds authorize,
f. by this Act or the said money MAJ
a bc deposited ia some National Bauk
e Savings Bank, Trust Company o
IN other Banking Institution, at sue
"a rate OF interest On said deposit "a
10 may bc agreed upon by said Count.
Commissioners, and said Bank, Trus
~ Company or Banking institution
n Provided that said money, wher
! So deposited, shall not be withdraw
20 except upon an order signed By Tia
h President Of said Board Of Count
IN Commissioner aud countersigne
N by the Clerk IN pursuance olauthor
Dr. ity granted by said Board
\ Section And be- il enacted th,
4 this Act shall take effect from IN
IN date " its passage
Approved February a. 1874
JoHN WALTER SMITH.
Governor.
JOHN HUBSRR,
President u the senate.
NOBLE l.. MITCHELL,
Speaker OF the Houeo OF Delegates.
oYTICE 90 TnE sIGRETARY OF IHE sESATE.
I hereby certify. rhht the afuTuguinR IL
~ true copy Of 80 Act 81 the General Asscmh
q % Mary land, passed nt the January Scssiu
ny 1872 Alfred III rTEh,
~, secretary Of the senate.