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Session Laws, 1908 Session
Volume 483, Page 769   View pdf image (33K)
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ART. 10.] DORCHESTER COUNTY. 769

SEC. 3. And be it enacted, That the said building committee
upon entering into any contract, as mentioned in the preceding
section, shall forthwith make report to the Board of County
School Commissioners of Dorchester county, fully setting forth
the terms and character of said contract and the debts incurred
thereby, which report shall be entered upon the records of said
Board of County School Commissioners.

SEC. 4. And be it enacted., That for the purpose of raising
the necessary money for building said brick school building,
including said heating apparatus, the building committee be
and they are hereby authorized and directed to sell the present
school building, either at public or private sale, as they should
deem most advantageous, for cash, and the proceeds derived
from the sale of the said building shall be paid over by the
said building committee to the treasurer of the Board of County
School Commissioners to be applied by them as hereinbefore
provided, and the said School Commissioners for Dorchester
county be and they are hereby authorized and directed to issue
bonds in the name of the Board of County School, Commis-
sioners of Dorchester county, with the endorsement thereon
of the County Commissioners of Dorchester county, which
endorsement said County Commissioners are hereby authorized
and required to give, the amount of nine thousand dollars, or
so much thereof as the building committee shall require. Said
bonds shall be issued in sums not less than one hundred dol-
lars nor more than five hundred dollars each. And shall be
signed by the president of the said Board of School Commis-
sioners and countersigned by the secretary of said board,
with the corporate seal of said board attached; such bonds
shall be dated the first day of July, 1908, and shall bear interest
at the rate of five per cent. per annum, payable on the first
day of January and July, in each year, until the said bonds
are respectively paid; for which semi-annual interest, proper
interest coupons, payable to the bearer, shall be attached to
said bonds, to be signed by the president of the Board of County
School Commissioners and countersigned by the secretary
thereof; said bonds shall be made payable to the bearer, and
shall have printed on them a distinct reference to this Act as
authorizing the issue thereof, which said bonds shall be en-
dorsed by the County Commissioners of Dorchester county;
and the credit of said county shall be pledged thereby for the
payment of said principal and interest; such endorsement
shall be by the president of the Board of County Commissioners
of Dorchester county, as such signing the same, and the clerk
of said County Commissioners countersigning the same with

 

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Session Laws, 1908 Session
Volume 483, Page 769   View pdf image (33K)
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