Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1902-05-15

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's
Beacon and st. Mary's 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 deriryd from their
sale shall be applied to the payment
Of theinteresffirst accruing thereon.
Section B. And be it 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 10 the payment
Of the Indebtedness incurred by said
Commissioners in tho 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
be applied TO other improvements in
connection with said Court House or
Court House grounds
Section 4 And be itenactcd that
| the said County Commissioners shall
levy annually upon the assessabie
property Of said county such sum Of
money as may be required 10 pay
the interest on said Bonds as it may
become due and also the principle
Of said Bonds az their maturity and
| II required TO levy IN order to pay
/ the principle OF said Bonds, they
/ shall IN addition to the sum required
I for the payment Of the interest, an
nuaily levy sum ~ money, which
/ being invested or deposited A here
/ matter required. will produce q sui
tcient fund for the payment Of the
/ principle Of said Bonds as the same
may become due aud payable. Pro
/ yided that after the present Bonded
/ indebtedness Of said County author
ICED by Chapter 4u7 81 the Acts ot
/ the Assembly passed In 1894 has
been extiuguishcd that the balance
81 the money that may be ia the
hands Of the County Commissioners
derived from the sale 81 Liquor H.
ccnccs in said County together,
/ with the amount 81 money that may
be thereafter annually received by
said County Commissioners from
said licences, shall first be- applied
T 20 the payment 81 the interest and
I principleof The Bonds authorized by
] q sa.s 81 e
creating q sinking fund for the pay
meut Of said BDudsat their maturity,
any amount 1T money 'hat may boz In
the hands 81 said County Commits
sionera. derived either from said
liquor licences or from q levy upon
the asseSsable property olsnid Couu
~, authorized BIZ this Act, which
may not nj the time be necessary
for she payment Of the interest or
principle ~ said Bonds. shall be in
vested either In securities 81 the
/ United States, the State Of Maryland
or any County thereof. the City 81
Baltimore. OF In the purchase and
/ cancellation 81 the Bonds authorized
( by this Act, or the said money may
] lfH tittftNtAftt w ~tAiitt ANtAAlhtAAt AAAlHr
Savings Bank, Trust Company or
[ other Banking Institution, ag such
rate 81 interest ou said deposit a.
may ho agreed upon by said County
/ Commissioners, and said Bank, Trust
/ Company ur Banking Institution
/ Provided that said money, where
so dcposited. shall NOT bo Withdrawn
except upon AN order signed by the
President 81 said Board 81 County
/ Commissioners and countcrsigned
by the Clerk iu pursuance otauthor
it's granted hy said Board
Section ). Aud be it enacted that
this Act shall take effect from the
date Of its passage
Approved February ~ lMH
JDHs WALTER SMITH.
Governor.
JOHN HUBNgR.
resident Of the senate.
NOBLE l., MITCHELL,
Speaker os the Huuss of Delegates.
oFFiCE OF THE sEriETAHY 90 TnE EEEATE.
/ hereby certify That the afttrnKOinH " q
true copy ~ al Act OF the General Assembly
OF Mary land passed ~ The January session
l@2 Alfred M l~fEh,
Secretary OF the Senate.