The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1908-05-09

Tor each TWO years. uutil the whole sum u ex-
baus'ed. aud In the. work to be done upon the
said roads, fom the monies. hereby negotiated.
tn, may IN their discretion use Il as y separate.
| individual find or they may use the same In
connection With the ale appropriation, guaran-
Ted TO the several counties OF the State. under
the Ac, known as the shoemaker Act" or IN
CONNECTION with any other Act that may become
a lsw prot rating other or further sums. ON
the State, TO the aid Of the several counties for
the purpose Improvements Of the public roads
In said county.
Section !. Re II enacted, that. In view Of the
fact that ony twenty-five thou ami d liars of
the money shall be used for the aforesaid pur-
pose In shy one year. that the County Commits
, sioner.. although required 1, sign and seal said
bombs may. H. theit discreet on, sell, at any one
time, only such amount thereof as may be neces-
sary for the i'nm, di,te purposes Of this Act.
And In case any such bonds shall be sold at diff
| ferent peri DIS. whatever excess thereof renal
unsold at auy time. or from time TO time shall
be p aced IN safe deposit vaut with asdnp icate
key, Que Of which IL TO be held by the Pre- ident
| of tue Board Of County Commissioners anf one
by the County Treasurer. End the said vault shall
| not be opened. at ANY time. for the purpose of
| sale or deliver except upon an order OF the
County Comm ssionefs, In open sc sion, To he
duly euIered upon their minutes Of proceedings;
| aud should there lie bonds remaining unsold
| from time 10 time the coupons thereon sha | be
| cut OF aud publicly burned aud no levy Ms here
matter provided shall bs made forthe purpose OF
paying The coup,n interest ON bonds unsold.
Section. >. Aud be II enacted, that for the pur-
pose Of redeomipg said bonds at ,hcir maturity
| or for securing the prompt payment OF the inter.
est coupons, the sail County Commissioners shall
| for the year 1913. aud annually thereafter until
I maturity OF the last OF the bonds. issued
under the authority of this Act. levy lax on the
asscs,ahe property of said county sufficient to
pay the aubual interest on said bands sold aud
unpait; and also IN addition thereto, for the
tirking fund. they shall levy an amount which.
with accumulated tefest thereon. will enable
them - meet the several series Of bonds issued
IN this Act, as they shall sevcrally become due.
section T. And be It enAc, ed that the money
for the sinkiug fund. levied annually As pro
vidsd IN the preceding Section. shall be deposit
ed, by the County Commissioners In some ,aving
inst luton or trust company paying Interest
thereon, ami they shall rqni from such saving
institution trust comp ~ good aud sufficient
bond IN the PEI atty ONO lees than ten per cent
abov, the amount Of money 90 deposited; and
the money so deposited to the rcdit Of aid sink
.
by the President of the Board OF c unity Com
mission u aud the County treasurer; aud said
sinking fund may be used at any time in the
purchase and redemption amy OF said bonds
when the purchase price shall secure a rate of
Interest greater taan that paid 6y the depository
OF repositories wherein the said money shall be
depo>ied; aud after the purchase aud rcdemp-
ito VI any such bonds, by the said Comfy Com
mlSsiopers. from ;he deposits the credit Of the
sinking nd, the same shall be Immediately de-
s'royed; and no portion Of the aid sinking fund
shall be diverted 10 any other purpose than
liquidation of said bonds: and should said
County Commissioners. or any othe person hav
ing charge OF ~ 81 sinking fund. suffer the same
to he diverted or applied to any other purpose
than the purchase or red mpilon OF the said
bonds Ht or before the maturity thereof, then
such members OF the Bard of County Commits
siyners who shall. by their vote, ag'ee to such
diversion. shall be deemed guilty OF a misde
mcanOr and shall be subject TO n fiuc Of not less
than the amount applied or diverted, and uton
failure to ppy said fine and costs. may, In the
discretion Of The Court, trying the case be cnm
mitted to Jail until said iue and costs are paid.
Section S. And be It enacted, that the monles
arising from the sale OF said bonds shall be paid
10 the JON, order of the President Of the Board Of
County Commissioners of Cecil county aud the
Treasurer thereof: and the said rcasurer shall
keep In book to be provided for this purpose, n
full registry of the bonds sod the different series,
serial numbers of the bonds and names Of the
purchasers the am un, realized therefor aud all
transfers or assignments thereof aud the de-
posits OF the purchase money for raid bonds
shall, when not used for immediate purposes, be
made In some savings institutions or rrls, m
pany under the same condition ~ herclnbcf fore
required for the sinking tut d money aud the in
terest thereon.
Section .. And be II enscted that the bonds 30
TO be issued shall be designated bonds for the
perm amen, Improvement OF Public Highways OF
Cecil County" aud the funds arising thcrcfrUm
all not be used for or diverted To any other
purpose under the PENALTY provided uadrr the
neat preceding Section
Section 10. And be II enacted. that tor the
purpose Of the improvements OF the roads. AS
aforesaid the Governor shall appoint an Auxlli-
AIRY Board consisting OF four citizens of Cecil
county to confer aud act with the Board of
County Commissioners a. to the proper ads TO
be improved, aud the manner CT their improve.
mcut. and who shall advise with the faid Board
of County Commissioners as TO the charGc err. or
the place where the work is To be ne aud nlso
/
mcnts, aud the decidon OF majority OF said two
Boards In Joint session shall b final rs to the
places aud manner Il said improvements. The
said Auxiliary Board so appointed shall receive
no compensation other than their personal cx-
pense, OF which they shall monthly render an
account to the County Comml sIoners OF said
County shall thereupon, Immediately pay the
same In cash.
Section H. And be II enac'el, that, whei cas-,
provision is hereinhcfore made for levy to pay
the interest upon said bonds, II the County Com.
missioners shall determine, that the same can be
paid on. Of the general fund provided for county
highways, they shall not be required TO make n
special levy Ter sald interest, but may, In their
discretion, pay It from the general find provided
for highways, or out of their contingent fund.
Section ~ And be 1t enacted, that tho fund
arising fom the sale Of the bonds, for the perma-
nent improvement of the public highways. shall
be apportloned TO the several election districts OF
said county, in proportion to the sums heretofore
spent in the care and repair ofthe roads OF said
respective districts. The roads to te lint i'm.