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Session Laws, 1912
Volume 370, Page 111   View pdf image
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PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 111

County, aforesaid, as follows: The first series one year after
date; the second series two years after date; the third series
three years after date; the fourth series four years after date;
the fifth series five years after date; the sixth series six years
after date; the seventh series seven years after date; the eighth
series eight years after date; the ninth series nine years after
date; the tenth series ten years after date; and said bonds shall
be sold to the highest bidder or bidders for cash by the School
Commissioners.

SEC. 6. And be it enacted, That for the purpose of redeem-
ing said bonds at maturity and for the purpose of securing
payment thereof, the County Commissioners of Dorchester
County shall levy, in each and every year, beginning with the
year 1913, upon the taxable property of Dorchester county such
sum as shall be required for the payment of principal and inter-
est of said bonds, until all of the bonds are redeemed and paid,
and upon the purchase of any of such bonds or the redemption
of same at maturity, they shall be immediately cancelled or
destroyed under 'the direction of the said County Commission-
ers and in their presence, and when so destroyed a record of
the destruction of the same shall be made and entered upon the
records of the office.

SEC. 7. And be it enacted, That the money arising from the
sale of said bonds as provided in section 5 of this act shall be
paid to the school treasurer of said county, who shall keep in a
book for that purpose a registry of the bonds, and the names
of the purchasers and the amounts realized; and the said funds
so realized from the sale of the said bonds shall be applied to the
purpose set forth in this act, and to no other purpose, and shall
be paid by the said school treasurer upon the order of the said
building committee, from a warrant book especially authorized
by said committee, with the said warrants numbered consecu-
tively, and the said treasurer is hereby authorized and directed
to pay the contractor or contractors employed by said building
committee in accordance with the terms of their said contract,
upon the warrant of the said building committee, with such sum
or sums of money as shall be certified in said warrants, that
such contractor or contractors are entitled to in the performance
of the contract, and shall pay upon the warrant of said building
committee the cost of plans and specifications of the work pro-
posed to be done, the salary or commission of the supervising
architect, and such other expenses as said building committee
may properly have incurred in the discharge of its duty, and no
part of the proceeds of sale of said bonds shall be paid out by

 

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Session Laws, 1912
Volume 370, Page 111   View pdf image
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