The Republican. [volume] (Oakland, Md.) 1877-current, 1941-05-15
PROVIDING FOR REFEREN-
DUN ON SCHOOL BUILD
ING BONDS FOR OAKLAND
HIGH SCHOOL.
CHAPTER -


ton of a new building for the
Oakland High School and provid,
ing for the levying Of taxes fol
the repayment of such bonds anC
for a referendum by the qualified
voters of Garrett County on the
issuance of the bonds.
Section 1. Be it enacted by the Gen
eral Assembly of Maryland, That al
the election to be held in November
1912, or at the special election held in
Garrett County prior to that date
whichever is first, the question OF
whether $250,000 in bonds are to be
issued for the purposes of this Act
shall be submitted to the qualified vot-
ers of Garrett County by the Commits.
sioners of Garrett County who shall
cause to be printed on the ballots tc
be used at the election the words
"Shall $250,000 worth of bonds be
issued for a new Oakland High
SCHOOL," and shall provide a way fol
each qualified voter to answer this
question Eyes" or mo-.
Notice of the submission of said
question shall be conspicuously adver-
tised by the County Commissioners OF
Garrett County in the two County
newspapers of said County for three
successive weeks prior to the election
at which said question is to be voted
upon, and such notice shall contain the
title of this Act.
Sec. 2. And be it further enacted
That if a majority of the qualified
voters of Garrett County, voting al
the election in November, 1912, or at
the special congressional election
whichever is first, vote yes, then (a)
The County Commissioners of Gar
rett County shall borrow upon the
faith and credit of Garrett County
Two Hundred and Fifty Thousand
Dollars (S250, 00O.O0) for the purposes
of this Act and issue coupon bonds
therefor.
(b) The County Commissioners of
Garrett County shall by resolution
prescribe the form and tenor of such
bonds; the rate of interest, not exceed
ing three percentum (3%o) per annum,
to be paid thereon; the date of issue;
and the time and place at which inter
est is to be paid. Such bonds shall be
in coupon form, shall be in denomina-
lions of $4,000 or any multiple there.
Of, and may be made registerable as to
principal. Such bonds shall be issued
upon the serial maturity plan in such
manner that bonds in the amount of
Fifteen Thousand Dollars ($15,000)
shall mature and become payable IN
the calendar year 1913, and in each
calendar year thereafter until Il of
said bonds have been paid and retired.
(c) Such bonds shall be signed by
the County Commissioners of Garrett
County, countersigned by the County
Treasurer, and the corporate seal of
the county shall be attached thereto by
the Clerk of the County Commission
ers; and the interest coupons attached
to each of such bonds shall bear the
facsimile signature of the County
Treasurer printed, Autographed CT
engraved thereon.
Sec. 8. And be it further enacted,
That any bonds issued under the pro-
visions of this Act shall be sold in the
manner prescribed by Section 35 Of
Article 81 of the Annotated Code of
Maryland 1889 EDITION. at such time
or times as the County Commissioners
of Garrett County deem proper.
Sec. 4. And be it further enacted,
That the entire proceeds arising from
the sale of any bonds issued under the
provisions of this Act, after the pay
ment of the costs of engraving and all
other incidental costs and expenses
connected with the issuance of the
bonds shall be paid over by the County
Commissioners of Garrett County to
the County Treasurer to be held by
him in separate account subject to
the order of the County Board Of Edu-
cation, and to be spent only as pro-
vided in Section of this Act.
Sec. 5. And be it further enacted,
That the Board of Education of Gar
rett County shall have the power to
use the proceeds from the sale of any
bonds issued under this Act (a) to
provide for the acquisition of a site
and the erection of and equipment for
new building for Oakland High
School, and (b) to pay any expenses
incurred in providing for the acquisi-
ton of site and the erection of and
equipment of new building for Oak
land High School, but the plans for the
building shall be subject to the ap-
proval of the State Superintendent Of
Schools, as provided by Section 80 of
Article II of the Annotated Code of
Maryland 1889 Edition). No money
shall be paid upon any contracts made
for or any work done in the erecting
and/or equipping of the building until
they have been approved by the Coun-
ty Board of Education. Any balance
remaining after paying the cost of
providing the new Oakland High
School building may be used by the
County Commissioners for general
county purposes.
Sec. 6. And be it further enacted,
That for the purpose of paying the
interest on such bonds as may be
issued under the provisions of this Act
and redeeming them as they mature,
the County Commissioners of Garrett
County shall include in the levy for
the year after their issuance and each
year thereafter until they mature and
have been redeemed an amount suf-
ficient to pay the annual interest on
the bonds and to redeem them as they
mature.
Sec. 7. And be it further enacted,
That this Act shall be declared to be an
emergency law and necessary for the
immediate preservation of the public
health and safety, and being passed
by yea and nay vote, supported by
three-fifths of all the members elected
to each of the two Houses of the Gen
eral Assembly the same shall take
effect from the date of it's passage.
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