Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1922-03-08
BASIS FOR ISSUE
OF 100000 BONDS

Setting forth the dire need of
the county for funds to liquidate
outstanding Indebtedness in
Cured through certificates issued
for road work to date, the Board
of County Commissioners at the
regular weekly meeting yester-
day took final action to seek leg
islative authority to issue bonds
in the sum of 100000. not only
to wipe out the present debt, but
to provide sufficient funds to
meet the necessary expenses for
the coming year. In other words
a bond issue is regarded as the
most desirable means of placing
the county on cash basis.
Resolution Adopted
This action was taken in the form
)f a resolution outlining the finan
cial condition of the county. aud un-
der it's provisions. Nicholas II. Green,
counselor to the Board, is directed to
prepare a bill embodying the propos-
ed bond issue. for submission to the
General Assembly now in session. The
bill, it is expected. will he ready
within a few days. as the legislative
session now has less than month
10 go. and the time limit for the in
PRODUCTION of bills. without unanimous
consent of the body IN which II IS
proposed to offer a BILL will expire
within the next two weeks.
The resolution points out that the
present Indebtedness is approximately
5000 900. and that a like sum will be
needed for the coming year. Hence
the stipulation for a bond issue OF
S4OO, 900. 1t is also pointed out that
1 to provide the necessary funds by tax
would make necessary tax rate con-
fiscatory in effect The resolution, in
full, follows:
Whereas, The County Commits
sioners of Anne Arundel County
as at present constituted, finds IT.
self confronted with a large in
i debtedness due by the county, ex-
/ listing on the first day OF Decem-
! Der, 1921, when the present Board
came into office, and increasing
each month since, in the making
/ of which it had no voice, and in
the creation of which 1t had no
part, and for the payment OF
which no provision has been
made.
And Whereas. For the past
number of years, the levy for
roads i'm each district was made in
each year to pay the cost OF the
roads for the preceding year, and
no levy was made for the incom-
ing year for that purpose; so that
such bills as were paid for work
done during the year had TO be
paid out of the fund for general
purposes, the amount received
from road tax in each district be-
ing applied to the payment of the
bills for work done during the
preceding year represented by
certificates issued during the pre-
ceding year, and for the road
work done during the year OF the
tax levy and not paid for out OF
the general fund, payment was
made by the issue OF new certif-
Gates; so that at the present time
the county is indebted on certih-
Gates issued for road work done
TO date during the fiscal year end
ing June 30, 1922, in the sum OF
136,14718 and on notes for work 7
done on roads during preceding
fiscal years in the sum of S50,500,
making a total of $186,64718, to
which should be added some addi-
tional increase for such work as
must be done between this date
and the end of the fiscal year.
: And Whereas, To provide for
the payment of the road indebted
ness for the past year, and to pro-
vide funds by tax to pay the road
! Indebtedness for the coming year,
would make necessary a tax rate
for roads confscatory in effect
And Whereas, 1t is deemed de-
} sirabIe by this Board that the
/ county should be in position 70
Immediately retire the outstand-
ing certificates as aforesaid, and
2 be placed in a position where it's
: bills accrued and TO accrue can be /.
r paid in cash, without having the ,