The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1900-05-12
DUBLIC LOCAL LAW.
To Issue Bonds to Liquidate the In
debtedness of the School
Commissioners.
CHAPTER 242.

CHAPIER AZ.
AN ACT TO AUTHORIZE THE COUNTY
COMMISSIONERS OF CA RROL LII
COUNTY TO ISSUE BONDS TO LIQUl-
DATE THE INDEBTEDNESS OF THE
SCHOOL COMMISSIONERS OF SAID
COUNTY.
Whereas, the Board of School Commission
ers of Carroll County, Maryland, is now in
debted unto sundry persons in various sums
ofmoney, aggregating the sum of Thirty Thou
sand Dollars; and, whereas, the County Com
miSsioners of said County are willing to assume
said Indebtedness and provide for the pay
ment thereof to the various parties TO whom
the same is respectively due and owing; and,
to accomplish said purpose, are DESTROYS of
funding said Indebtedness at a reduced rate of
interest; therefore,
Section l. Be it enacted by the General
Assembly of Maryland, That the County Com
missioners of Carroll County, Maryland, are
hereby authorized and empowered to assume
the payment of the Indebtedness of the Board
of School Commissioners of Carroll County,
as the same may have existed on the first day
of January, A. ID. 1900, aud remains unpaid,
and to fund the same at a reduced rate of in
terest, and for that purpose the said County
Commissioners of Carroll County are hereby
authorized and directed to issue bonds, to be
called Carroll County School Bonds, not
! to exceed the sum of Thirty Thousand Dollars,
said bonds to be registered or coupon, in the
discretion of the said County Commissioners,
! and to be issued in sums or denominations of
not less than one hundred dollars nor more
| than one thousand dollars, to be signed by the
| President of the said Board of County Com
missioners, and to be countersigned by the
| County Treasurer of said county, and have the
corporate seal of said County Commissioners
/ al. t,,tar at
! exceeding four per cent. per annum, payable
semi-annually on the first day of April and
i October. in each year after the issue of said
bonds and until the said bonds are paid, and
/ the said bonds shall be exempt from all taxa
/ ton.
| Section .. And be it enacted, That said
4 bonds shall be payable as follows: One thou
! sand dollars thereof on the first day of April,
| A. ID. 1905, and one thousand dollars on the
| first day of April in each and every year there
/ after until all the said bouds are fully paid;
/ provided, however, that all said bonds shall
| be redeemable at the pleasure OF the said
! County Commissioners on or after the hrst day
| of April, A. ID. 1905.
| Section 3. And he it enacted, That said
/ County Commissioners are hereby authorized
/ to sell said bonds either at public or private
/ sale for cash after two weeks notice of such
/ sale shall be published in two newspapers pub
/ lished in said county before the day OF sale,
/ stating the time when, and the place where,
said bonds shall be sold; provided, however,
/ that said County Commissioners shall not sell
any bond issued under this act for less than
the par value Of said bond.
Section l. And be it further enacted, That
after the issue of said bonds, and until the
same are fully paid, the said County Commits
sioners are hereby authorized and directed to
I tho ar pf
toned aud appropriated by them in each year
/ to the said County School Commissioners for
school purposes sufficient amount to pay the
, interest due on all said bonds which may be
| outstanding and after the year 1904 to retain
from said sum or sums so apporuoned and APP
! propriated, the further sum of one thousand
dollars to pay on the principal sum OF said
! Indebtedness.
Section 5. And be it further enacted,
That said County Commissioners shall cause
10 be prepared the bonds hereiubelore directed
TO be issued so that the same may be open to
the inspection of the public on or before the
date fixed for the sale of the same, and they
shall also cause the said County Treasurer TO
keep a record of the issue of said bonds con-
! tanning amount of bond, date OF issue, aud
when payable.
Section 6. And be it enacted, That this
| Act shall take effect from the dale of its pas
sage.
Approved April 9TH, 1900.
JOHN WALTER SMITH,
Governor.
JOHN HUBNER,
President of the Senate.
LLOYD WILKINSON,
Speaker Of the House of Delegates.
/
Office OF the Chief Clerk House of Delegates:
hereby certify, That the aforegoing is a
true copy OF an Act Of the General Assembly
Of Maryland, passed at the January Session,
1900.
b. L. SMITH.
Chief Clerk of the House of Delegates.
/ apr2S 81