The Republican. [volume] (Oakland, Md.) 1877-current, 1941-05-01
CHAPTER

CHAPlEh
AN ACT empowering the County
Commissioners of Garrett County
to borrow $250,000 and to issue
bonds therefor for the construc-
ton of new building for the
Oakland High School and provld-
ing for the levying of taxes for
the repayment of such bonds and
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 at
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 to
be used at the election the words,
"Shall S250,000 worth of bonds be
issued for a new Oakland High
SCHOOL," and shall provide way for
each qualified voter to answer this
question Eyes" or "no".
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 at
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 $780, 00.00) 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 (3f6) 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-
tions 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
Tbo,,eoVl np1lorc lG1k nn0l
shall mature and become payable III
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
fac-simile signature of the County
Treasurer printed, Autographed CT
engraved thereon.
Sec. 3. 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 1899 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 a 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
a new building for Oakland High
School opd (bl IN nav any evnpnepe