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This entry was published on 2014-09-22
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Payment of municipal bonds
General Municipal (GMU) CHAPTER 24, ARTICLE 2
§ 7. Payment of municipal bonds. Where the bonds of a municipal
corporation have been lawfully issued, and the payment of the principal
or interest thereof shall not have been otherwise paid or provided for,
the same shall be a charge upon such corporation, and shall be levied
and assessed, collected and paid the same as other debts and charges.
When for any reason any portion of the principal or interest due upon
such bonds shall not have been paid, the same shall be assessed, levied
and collected at the first assessment and collection of taxes by such
corporation after such omission.