The daily banner. (Cambridge, Md.) 1897-2008, 1914-10-24
Proposed Bond Issue For I'm
proVsIment Of The Public
School Buildings Of Dor
chester County.
A BILL
Entitled

the County Commissioners of Dor
chester County to issue bonds to
lars for the purpose of erecting
the amount of fifty thousand dol
new public school buildings and
repairing, renOvating or enlarg-
ing old public school buildings in
the town of Cambridge and in
Dorchester county; and to levy
and collect a tax upon the asses
sable property of said County suf-
ficient to pay the interest on and
the principal of said bonds, as
the same shall mature, and pro-
viding that this proposition for a
bond issue for schools be submit
ted for approval or rejection to
the qualified voters of Dorches-
ter county.
Section 1. Be it enacted by the
General Assembly of Maryland, That
the County Commissioners of Dor
chester county are hereby author
lied, empowered and required, for
the purposes hereinafter declared,
to borrow money on the faith and
credit of Dorchester county,to the
amount of fifty thousand dollars,
and to issue bonds therefor, the
said bonds to be issued in denomi-
nations of five hundred dollars each
to bear interest at the rate of five
per cent. per annum, payable semi
annually on the first day of Janu-
airy and the first day of July in
each and every year until the same
are paid, coupons to be attached to
said bonds for each of said semi
annual interest payments to be sign
ed by the President of the said
County Commissioners of Dorches-
ter county, the said signature eth
err to be printed or written there
on, the said bonds to be signed al
so by the said President and by
the Treasurer of said county, and
to have the corporate seal Of said
Dorchester county affixed thereto.
Fifteen thousand dollars of the
years from the date of their issu-
ance; fifteen thousand dollars at
the expiration of twenty years from
the date of their issuance, and TWEEN
ty thousand dollars in thirty years
from the date of their issuance. The
said County Commissioners, after
the issuance of said bonds, or any
installment thereof as hereinafter
specified, shall levy annually upon
the assessable property of said
county sum sufficient to meet
and pay promptly the interest on
the said bonds, and shall likewise
levy upon the assessable property OF
said county sum sufficient to meet
the principal of said bonds at their
maturity, the said levy for the
principal as aforesaid to be made in
such year as will enable the said
County Commissioners to collect the
money necessary for the punctual
redemption and payment of said
bonds.
Sec. 2 And be it enacted, That
the said bonds shall be dated on
the first day of July in the year of
their issuance and the said bonds, in
the discretion of the said County
Commissioners, may all be issued at
one time, or in three installments,
according to the order of their ma
Their sold all at one time, or in in
1iHr Commissioner shall adver-
tise the said sale in two newspapers
published in Dorchester county
aforesaid, and also in a newspaper
published in Baltimore city,if they
shall deem such advertisement ad-
visable, giving reasonable notice of
the time of such sale and inviting
sealed proposals for the purchase
of said bonds, SO as to be issued,
with the privilege to the said Coun-
ty Commissioners of rejecting any
and all bids. The said bonds shall
be exempt from county and munich
pal taxation.
Sec. 3. And be it enacted, That
the proceeds arising from the sale
of the said bonds shall be paid ov-
er by the County Commissioners to
the Board of County School Com
missioners of Dorchester county, to
be expended by said Board of Coun-
ty School Commissioners of Dorches
ter county, in the exercise of their
best judgment and discretion, for
the purpose of erecting new school
houses, or repairing, renovating or
charging the existing school houses,
in Dorchester county, provided how
ever, that not more than thirty
thousand dollars, so to be borrow
ed, shall be expended for such pur-
pose in the town of Cam bridge, and
the balance thereof shall be expen-
ded for similar purposes in Dor
chester county, outside Of the town
of Cambridge, and provided fur
Their that the proportion of said
money to be expended on schools
for white pupils and upon schools
for colored pupils shall be appor-
toned by the said Board of Coun-
ty School Commissioners of Dor
chester county, according to their
discretion and best judgment, pro-
vided that not more than ten thou
sand d ollars thereof shall be spent
on schools for colored pupils.
Sec. 4. And be it enacted, That
the said, the Board of County
School Commissioners, may, in their
discretion, appoint three persons of
good judgment, who must be resi-
dents of Dorchester county, to
serve as a Committee of Superinten-
said School Commissioners in car
rying out the purposes and objects
of this Act and with such duties as
may be prescribed by the said
School Commissioners, the said
members of said Committee to be
paid not more than $500 each for
their services; provided that the
County superintendent and the