The daily banner. (Cambridge, Md.) 1897-2008, 1922-03-04

! An ACT to authorize and empower the
! County Commissioners of Dorche6-
! ter County Maryland, to issue
bonds to the amount of two nun
] dred and fifty thousand dollar
t$250,000) for the purpose or az
during sites for a new public h9ssi
school building in the Town q
Cambridge or vicinity and in the
Town of Hurlock or vicinity, Dor
chester County, and building, re-
pairing, renOyating or enlarglnS
school buildings in Dorchester
County, and to authorize th@
County Commissioners to levy tn
necessary amount for the ,paymeh
thereof and to collect tax upon
the assessab1e property of Dor
chester County.
Section BE it enacted by lhe
General Assembly of Maryland, l llia !
the County Commissioners of Dof
chester County are hereby authorizei
and empowered for the purpose
hereinafter declared, to borrow
money on the faith and credit OF Dor
chester County to the amount OF two
hundred and fifty thousand dollars
($25O,0O0) and to issue bonds
therefor, said bonds when issued to
have written or printed upon them i
distinct reference to the Act, direct
ms the issue of same, and are to bc
DESIGNATED "Dorchester County
School Improvement Bonds and are
to be issued in denominations OF five
hundred dollars ($500) each, and TO
b, ar interest at the rate OF n 10
pei annum; said bonds are tas De
dated January the 1st of the year III
which issued and shall bear interest
from the date thereof, payable seii.l-
annually said interest to be pam on
the first day of July and the first day
OF January i'll every year until the
maturity of each Of said bonds; said
bonds are 10 be numbered conSecE-
tivelV from one 10 five hundred m
elusive, and to have coupons at
tached thereto covering each of every
interest payment; said bonds and
coupons TO be signed by the pres
dent of the said, the County on
nlissioners for Dorchester County
and countersigned by the clerk OF
said County Commissioners, the sig
nature to be either printed or writ
ten thereon and the bonds to have
the corporate seal of the County
Commissioners for Dorchester Coun~
t. affixed thereto
The said the County Commission
ers, after the issuance of said bonds,
shall levy annually upon the assessa-
BILE property of said county a sum
sufficient to meet the interest ard
principal on said bonds as same be
come due. Said bonds shall be res
deemable as follows; twenty-five q
said bonds beginning with numi2
one shall be due and re6eenl;t bic z
the first day Of JaItua1y @fe'fi =
the date of issue; twenty-five more
of said bonds in order according to
number shall be due and redeemable
Oh the succeeding first day OF Janu-
airy; and twenty-five more OF said
bonds each year thereafter until all
of said bonds shall be due and re-
deemed.
Section 2-And be it further en-
acted, That at such time or times as
said bonds may be issued and sold,
the County Commissioners shall ad-
vertise said sale in two newspapers
published in Dorchester County
aforesaid and also in a newspaper
published in Baltimore City, if they
deem such advertisement advisable
giving reasonable notice of the time
of such sale and inviting sealed pro-
posals for the purchase of said bonds
so as to be issued, with the privilege
to the said the County Commission
ers of rejecting any and all bids;
that the said bonds shall be exempt
from county and municipal taxes;
and that the said the County Com
missioners shall keep a record of said
koIadc. In n ,nniSt,1r Of hnnaS giving