The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1896-04-25
bonds shall be sold for less than their face


value.
SEC g. And be it enacted. That for the
purpose of paying the interest on said bonds
the said County Commissioners, annually
shall levy at their levy laying term upon the
asses able property the sum necessary TO pay
said interest as separate item asiC from the
levy Of the current expenses OF said county,
and they shall also i'll the respective years in
which such bonds shall become due, rs
hereinbefore provided, levy annually the sum
OF five hundred dollars for the redemption OF
such bonds as shall annually become due.
The interest on said bonds shall be receivable
by the treasurer of said county for taxes upon
presentation of the coupons of the current
year, and the said treasurer shall reserve out
of the moneys collected by or paid to him for
county purposes generally. Il sum sufficient
to pay the interest on said bonds ut the times
when said interest shall fall due. which in
terest shall be payable upon presentation of
the said coupons as they may TALL due. Such
coupon taken in payment OF taxes or paid in
cash. shall be accounted for to the County
Commissioners 10y the said treasurer rs other
vouchers of payments by him are accounted
for, ard said coupons shall be delivered to
said Commissioners and be by them imme-
diately burned and destroyed. Aud us the
said bonds mature and are redeemed they
shall similarly be accounted for. delivered
and destroyed.
SEC. 4. And be it enacted. That the money
arising from sales of said bonds shall he kept
as Il separate fund for the purposes of this
Act. aud the treasurer shall keep II full
registry of said bonds with the names of the
purchasers, the amount realized on sales and
the date of maturity Of the several bonds by
their serial number.
SEC. 5. And be it enacted, That the fund
realized from the sale of said bonds shall be
applied to the erection aud equipment of IL
public school building in Elkton under the
direction and control of the Board of County
School Commissioners for Cecil County. as
hereinafter provided and shall be paid by the
treasurer upon the requsition of the said
School Commissioners endorsed by the
County Commissioners of said county. rs
other county funds are paid out. and the said
County School Commissioners are hereby
authorized to make requsitlonS and the
| County Commissioners are directed to audit
the same and properly endorse them for pay
| ment Cif found corrcct to the several con-
! tractors, architects. material men or others
| who have done work or furnished materials
to and about such building, and also in pay
ment of any necessary expenses which may
have been incurred by the Board of County
School Commissioners OF Cecil County.
SEC g. And be it enacted. That the Board
of County School Commissioners Gin the event
| of the sale Of said bonds shall rs speedily -
! possible procure and adopt plan and spr.'-
| iirations for the building and equipment If d,
| public school building III Ektou. aud rs 10.
ts said plans and specification shall have
| been adopted they shall invite sealed pro-
/ pOSaIs by advertisement for rr'l-, nabe tin"
! for the construction and completion OF -li,l
/ building, which proposals shall hc hy aird
bids to be publicly opened ut IL tim" ANA place
to be named in said advertisement: said pro.
| pOsals Shall state tn" amount for which the
bidder will complete the building accortiHa
| To plans and specifications, the time at which
| ton the completion of a certain portion OF
said buiding) the moneys shall be paid there
for: and the contract shall be awarded to the
| lowest bidder who shall give bond with such
surety or sureties as shall be approved by
said Board of School Commissioners ard for
such amount MS they shall approve condi,
toned fOrthe faithful performance of the con.
tract so awarded, whereupon the said Board
OF County School Commissioners shall i'm.
mediately proceed to have said building
erected.
SEC. I. And be it enacted. That this Act
| shall take effect from the date of its passage
Approved. April End, 1896.
LLOYD LOWNDES,
Governor.
WILLIAM CABELL BRUCE.
President OF the Senate.
SYDNEY T.. MUDD.
Speaker of the House of Delegates.
ONCE of the Secretary Of the Senate
| hereby certify that the aforcgoinG is
of Maryland, passed at the January Session
1896.
j. ROGER McSHERRN.
Secretary of the Senate.