Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1916-02-24

the PROVISIONS Of tAIsa Ach3 pf0YlGeo
that the petitioners for such i'm.
provement shall agree to contributs
IN cash Or labor an amount not less
than one-half Of said estimate, al
81 said money 70 be expended under
che direction d the County Roads
Commission.
| SEC. s. The County Commits
tioners Of ST. Mary's Couaty are
hereby authorized, required and d.
rected to turn over to the County
Roads Commission, created by this
Act, within fifteen (ls) days after
said commission shall have organi-
zed IN accordance with the provis-
ions Of this Act, all the implements,
machinery, tools and appliances Of
all kinds now owned BY st. Mary's
County and used for working on the
public roads and bridges Of said
county. and further to turn over to
said County Roads Commission all
moneys now in their hands Or that
will come into their hands BY virtue
Of all statutes or sections thereof in
existence prior 10 the passage Of
this Act; and which by al. prior
Statutes or sections thereof the said
County Commissioners were authroi-
zed to expend on the public roads
and bridges Of st. Mays County
SEc. The County Commits
sioners Of st. Mary's County shall.
and they are hereby authorized. re-
qnircd and directed. IL their levy
for 1917 and annually thereafter,
70 levy a sum Of money not less
than ten thousand dollars (sI0, ouO.)
nor more than fifteen thousand del
lars lsIs,0oD@ q b. turned over BIZ
the County Treasurer when collect
ed by him 10 the Comfy Roads
Commission 80 be used Us said
commission rs follows
a portion sufficient 10 create q
sinking fund 10 redeem the bonded
indebtedness hereinafter provided
for and % pay the interest thereon,
shall be reserved ~ said commission
and ~ ,hem deposited il equal aud
exact proportion az near A. i i pos.
aiblr 70 divide same, II The savings
departments of the First National
Bank 81 ST. Msrys. l.eonarltown,
Md. The I.eonardtown Bank 81 the
Eastern Shore Tgnst Company,
i.eonanliown. Md. and the Natl
onal Bank II Mcchanicsyille. Me-
chanicsyille, Md. the said three
banks beine al the hanks now do
iug 4 general banking hnsiness ii
Isl. Mays Comfy and the said
sinking fund shall draw interest At
The usual rate FER aunum % not
los than threr and ont.half per
cent. Der annnm paid by said bank
ing Institutions on savings accounts,
the remainder Of said smount here
- anthealeed, required and directed
IA BE- levied by said County Com
missiouers: 10 be expended BY the
County Roads Commission for the
maintenance and repair 81 the pub
lic roads and bridges insaid county.
sFe. s. For the purpose Of pro.
yiding for said expenditures FOR the
construction Improvement and
maintenance oG said public roads
and bridges Ia said county. a loan
Is hereby created. 10 b. called "T'he
County Road Loan, 70 the amount
o. one hundred and afty thousand
dollars lslso. oool' the said loan 10
bear date a. follows; twenty-five
tho sand dollars is2s. 000l TO be
known a. series a Jaiy I, 1910;
twenty-five Thousand dollars 1898,
0o0l to be known a. series 3 Jan. /.
1917; twenty-five Thousand dollars
gs25,Ooo) 10 BE- known a. series &
Jan. !, l9ie; twenty-five thousand
dollars ls2s, opol 70 De- known as
series D Jan. b. 1919: twenty-five
thousand dollars ls25. oo0l 20 be
known a. series II Jan 1, 1920;
twenty-five thousand dollars ts25,.
oool to be known as series + Jan. i,
1891, ard shall bear interest At q
rate 10 be hxed BY the said County
Roads Commission or majority Of
them, not 70 exceed FIVE per cent,
per annum, payable on the first day
Of Jnls and the first day Of January
in each year: and the said loan and
every part thereof and the interest
payable thereon, shall BE- and re-
main exempt from State, Comfy
and municipal taxation; and ths
| principal amount Of said loan shall
be payable twenty tao) years aftel
the dase d said respective series
t tz1f ~ - 4 .....1 4 1 .s.t -.