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Session Laws, 1918 Session
Volume 486, Page 731   View pdf image (33K)
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EMERSON C. HARRINGTON, GOVERNOR. 731

done; provided, however, that the entire cost of said building
complete, including said heating apparatus, shall not exceed the
amount realized from the sale of bonds hereinafter authorized
and directed to be issued for that purpose.

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 school building including
said heating apparatus, the building committee be and they are
hereby authorized and directed to issue bonds in the name of
the Board of County School Commissioners of Dorchester
County, with the endorsement thereon of the County Commis-
sioners are hereby authorized and required to give, the amount
of five thousand dollars, or so much thereof as the building com-
mittee shall require. Said bonds shall be issued in sums of one
hundred dollars each. And shall be signed by the president of
said Board of School Commissioners and countersigned by the
secretary of said board, with the corporate seal of said board at-
tached; such bonds shall be dated the first day of July, 1918,
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, un-
til the said bonds are respectively paid; for which semi-annual
interest, proper interest coupons, payable to bearer, shall be at-
tached to said bonds, to be signed by the president of the Board
of County School Commissioners and countersigned by the sec-
retary 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 pay-
ment of said principel and interest; such endorsement shall be
by the president of the Board of County Commissioners of Dor
chester County, as such signing the same, and the clerk of said
County Commissioners countersigning the same with the cor-
porate seal of said County Commissioners attached thereto;
said bonds and every part thereof and the interest thereon, be-
ing exempt from all county and municipal taxation, whether

 

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Session Laws, 1918 Session
Volume 486, Page 731   View pdf image (33K)
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