Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1920-10-22

AN ACT to authorize and direct the
County Commissioners of Charles
County, Maryland, to issue bonds
for the purpose of paying for new
public school buildings; improving
and repairing old school buildings;
or of removing, remodeling and con-
solidating school buildings; for the
equipment of the same in Charles
County, Maryland, and providing
for referendum vote on said pro-
posed bond issue.
WHEREAS, II is expedient and for
the manifest interest and advantage of
the public school system of Charles
County, that certain public schools
therein be consolidated, and to that
end it may become necessary to i'm
prove and repair school buildings now
in use in said County; to rebuild, re-
model and remove the same, or build
new and larger school buildings;
therefore
SECTION /. Be it enacted by the
General Assembly of Maryland, That
for the purpose of building new public
school buildings, of improving and re-
pairing old school buildings, of re-
NOV lAlEt IS1lodCiAAlSy CONSTRUCTING VI
equipping the same in Charles County,
Maryland, the County Commissioners
of Charles County be and they are
hereby authorized, empowered and di-
rected to issue serial bonds upon the
faith and the credit of said Charles
County, to be signed by the President
thereof, and attested by the Treasurer
of said Charles County, and the seal
ofsaid County Commissioners attached
therto, to be known as Public School
Improvement Bonds OF Charles Coun-
by, Maryland. =
SEC. 2. And be it further enacted,
That the amount of said bonds shall
not exceed in the aggregate the sum of
one hundred thousand ($l00, 000) dol
lars, to be issued in denominations of
one hundred dollars or any multiple
thereof, on the faith and credit of
Charles County, Maryland; said bonds
to be dated January /, 1921, to be ex-
empt from State, county and municipal
taxation, to bear interest at rate not
exceeding six per centum per annum,
payable on the first day of July and
January of each year and to be so is
sued that five thousand is, 000) dollars
of said bonds shall mature and become
payable on January l, 1924, and five
thousand (S5, 000) dollars on January
LIST, each year thereafter until the en-
tire issue of bouds shall have matured
and been paid; and said bonds shall
be sold after due advertisement to the
highest bidder or bidders and said
Commissioners shall have the right to
reject any or all bids.
SEC. 3. And be 1t further enacted,
That the County Commissioners of
Charles County be and they are hereby
authorized and directed to levy annu-
ally on the taxable property of said
County, sum of money sufficient to
pay the interest on said bonds and to
redeem said bonds as they mature and
become payable, and said taxes shall
be collected in like manner as other
taxes in said county, and when collected
shall be applied to the payment OF the
interest on said bonds and to the re-
demption of said bonds as they mature
and become payable.
SEC. 4. And be it further enacted,
That when said bonds are properly
prepared and duly executed as de
scribed, the County Commissioners of
Charles County are hereby authorized
and required to sell said bonds to the
best possible advantage at public or
private sale, at such time or times, and
on such notice as they may deem best,
at not less than par and accrued inter
est, provided that said bonds shall be
sold on competitive bidding by sealed
offers, with the privilege Of rejecting
any and all bids, and the money arts
ing from the sale of said bonds shall
be kept by the County Treasurer in
separate fund known as Public School
Improvement Bonds of Charles Coun-
ty,r TO be used for the purpose of pay
ing for sites for new school houses,
building new school houses, and pur-
chasing equipment for same; improv-
ing and repairing old school houses or
the consolidation and equipping the
same in Charles County, Maryland;
the said money arising from the sale Of
said bonds shall be expended in the
discretion of the Board of Education
or duly constituted school authorities
for said Charles County.
SEC. 5. And be it further enacted,
That the proceeds from the sale OF /
bonds heretofore provided for, shall
be paid by the Treasurer Of chaElss