The midland journal. (Rising Sun, Md.) 1885-1947, 1922-07-28

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posed bond issue.
Section /. Be 1t enacted by the
General Assembly Of Maryland, That
the County Commissioners of Cecil
County be, and they are hereby au-
thorized, empowered and directed &c
issue serial coupon bonds on the
credit of said county to an amount
not to exceed one hundred and fifty
thousand (s150,000) dollars, said
bonds to be issued in sums of one
hundred (1O0) dollars, or any null
tiple thereof, to be signed by the
president of the Board of County
Commissioners Of said county and
countersigned by the clerk OF said
Board, to bear interest at rate of
FIVE per centum per annum, payable
semi-annually on January first and
July first in each and every year
during which said bonds shall be
outstanding and remain unpaid, and
to be exempt from State, county and
municipal taxation. The said bonds
shall have printed on them distinct
reference to the Act authorizing
their issue, and shall be designated
as Cecil County School Bonds.
See. 2. And be it further enact
ed, That the said bonds shall be
dated January /, 1928, and so IS
sued that bonds to the extent Of five
thousand ($5,000) dollars shall ma
ture and become payable on January
|, 1927, and five thousand ($5,000).
dollars on January 1st Of each year
thereafter until the entire issue of
bonds shall have matured and been
paid; and said bonds shall be sold
after due advertisement in at least
one newspaper of Cecil County, ask
ing for sealed bids for said bonds, to
the highest bidder or bidders, and
said Commissioners shall have the
right to reject any or all bids. The
proceeds Of the sale Of said bonds
shall be paid over to the Board OF
Education of Cecil County and used
for the procuring of site or sites
and the erection thereon of new
public school building or buildings,
OF enlarging, improving or repairing
old school buildings, remodeling,
consolidating or equipping the same
in Cecil County, State OF Maryland,
as recommended by the committee
hereinafter provided for.
Sec. 8. And be it further enacted,
That the County Commissioners or
Cecil County be and they are hereby
authorized, empowered and directed
to levy annually on the taxable prop
erty 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 inter-
est ON said bonds and to the re-
demption of said bonds as they ma
ture and become payable.
Sec. 4. And be 1t further enacted,
That committee Of i've members,
composed of the president Of the
Board OF Education Of Cecil County
or some other member Of said Board
to be selected by it. the president OF
the Board Of County Commissioners
of Cecil County or some other mem
Der Of said Board to be selected by
it, the County Superintendent or
Schools OF Cecil County, the County
Treasurer of Cecil County, and d
fifth member to be selected by said
four members so as above selected,
be and it is hereby constituted and
appointed, whose duty shall be to
make a complete survey of the con-
dition in said Cecil County Of the
public schools and the needs of each
community thereof relative to public
school facilities and to determine
what new site or sites and building
or buildings are needed, and what
additions. engagements, improve
ments, repairs and consultations. II
any are required to provide for the
needs of an adequate educational
system Of the said county and the
estimated costs of each such new
site or sites, building or buildings,
additions, engagements, improve
ments, repairs and consultations
for the information. guidance and
direction Of the Board of Education
Of said Cecil County in making said
improvements to said educational
system Of said county, and the ex-
penditure Of the money derived from
the aforesaid bond issue. or so much
thereof as may be necessary to carry
out the recommendations Of said
committee, a report of which COM
mittee to be published in one or
more papers printed and published
in Cecil County one month prior to
the general election to be held In
said county on the first Tuesday
after the first Monday in November,
1922,