The Republican. [volume] (Oakland, Md.) 1877-current, 1932-11-03
CHAPTER S49

CHAPTER $40
AN ACT to empower and direct the
County Commissioners of Garrett
county to borrow money on the
credit of said county for the pur-
pose of erecting public school build
ings in the County of Garrett, and
heating, furnishing and equipping
the same, and to purchase or con-
denim real estate for the erection
of the same, and for the purpose
of repairing and heating public
school buildings in said county, and
and to issue bonds for the payment
of said money, and to levy taxes
upon the assessable property of
said county to redeem such bonds
and to pay interest thereon; and
providing that before the negotia-
ton of said loan and the issuing of
said bonds the question of issuance
vote of the legally qualified
voters of said county at the gen.
eral election to be held in said
county in November, 1882.
SECTION 1. Be it enacted by the
General Assembly of Maryland, That
for the purpose of erecting public
school buildings in the County of
Garrett and for the purpose of heat
ing, furnishing and equipping the
same, and for the purpose of pur-
chasing or condemning real estate for
the erection of the same, and for the
purpose of repairing and heating pub
lie school buildings in said county,
said County Commissioners of Gar
rett county be and they are hereby
authorized, empowered and directed
to borrow money on the credit of
said county to an amount not exceed
ing one hundred and fifty thousand
dollars ($150,OO0.00), and to issue
coupon bonds therefor, the said
bonds to be in the sums of five hun
bred dollars ($500) and one thous-
and dollars ($1,000) each, and to be
signed by the president of the Board
of County Commissioners of Garrett
County and countersigned by the clerk
of said board with corporate seal of
said County Commissioners attached
to every bond so issued; said bonds
to be dated the first day of July, 1888,
and to bear interest at rate not eX-
CSCulIlS uNS pei CSuIuIu per
payable semi-annually on the first
day of January and the first day of
July in each and every year until ma
turity thereof, and the said bonds
shall mature as follows: Ten thousand
dollars ($10,000) thereof on July /,
1884, and annually thereafter the sum
of ten thousand dollars ($10,000O in
every year until all of said bonds
shall have matured.
Sec. 2. And be it further enacted,
That said bonds shall have written
or printed on them a distince refer
ence to the Act directing the issue of
the same, and that said bonds when
issued shall be exempt from municipal
and county taxation in Garrett coun-
ty, and they shall be sold after due
advertisement by the County Com
missioners to the highest bidder or
bidders.
Sec. 3. And be it further enacted,
That the said County Commissioners
of Garrett County shall levy annually
upon the assessable property of said
county a tax sufficient to pay the in
terest upon said bonds, and in the
year 1888 they shall levy the sum of
ten thousand dollars ($10,000) to meet
the first maturing bonds issued, and
annually thereafter the said County
Commissioners shall levy upon the
assessable property of said county the
sum of ten thousand dollars ($10,0OO)
for the payment of such bonds as an
nually mature until the maturity of
the last bonds by this Act authorized
to be issued.
Sec. a. And be it further enacted,
That the clerk of the County Com
missioners of Garrett County shall
record the said bonds when the same
are sold, showing to whom the same
were sold, what price was obtained
therefor, the serial number thereof,
and shall keep a record upon the books
of said County Commissioners of all
bonds paid.
Sec. 5. And be it further enacted,
That the County Commissioners of
Garrett County shall, when notified
by the County Board of Education of
said county that they desire to avail
themselves of the privisions of this
Act and of the amount of money they
will require for the purposes afore-
said, the said Board of County Com
missioners shall advertise and sell
such proportionate part of said bonds
as above provided to an amount suffi-
cient to produce the sum designated
by the said County Board of Educa-
ton, and shall pay over the total pro-
ceeds of the sale of said bonds to the
County Board of Education, which
board shall account for the same in
the same manner as they account for
other moneys passing through their
hands.
Sec. 6. And be it further enacted,
That the County Commissioners of
Garrett County shall have the option
to redeem any or all of said bonds
outstanding after three years from
the date of their issue.
Sec. 7. And be it further enacted,
That before the issuing of said bonds
or any of them, the question of the is
suing of said bonds as hereinbefore
set forth, shall be submitted to a
vote of the qualified voters of Gar