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Session Laws, 1920
Volume 539, Page 1259   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR 1259

all transfers or assignments thereof; and the deposits of the
purchase money for said bonds shall, when not used for im-
mediate purposes, be made in some bank, savings institution
or trust company under the same condition as hereinbefore
required for the sinking fund money and the interest thereon.

SEC. 12. And be it further enacted. That the bonds so to be
issued to the amount of three hundred thousand dollars ($300,-
000.00) for the purpose of erecting and equipping new public
school buildings, enlarging and equipping or permanently im-
proving old public school buildings shall be designated as
"Public School Bonds," and the bonds so issued to the amount
of three hundred thousand dollars for the permanent improve-
ment of public roads shall be designated as "Public Roads
Bonds."

SEC. 13. And be it further enacted, That whereas provision
is hereinbefore made for a levy to pay the interest on said
bonds, if the said County Commissioners shall determine that
the interest payable on said "Public Road Bonds" can be
paid out of the general fund for county highways, they shall
not be required to make special levy for said interest, but may,
in their discretion, pay it from the general fund provided for
public highways or out of their contingent fund.

SEC. 14. And be it further enacted, That the fund arising
from tlie sale of the "Public School Bonds" shall be spent
by the said County Commissioners and the said Board of
Education in the erection and equipping and permanent im-
provement of such new public school buildings and the en-
larging and equipping and permanent improvement of such
old school buildings as shall be agreed upon by the said
County Commissioners and said Board of Education, exercis-
ing their best judgment, and looking, however, to the best
interest of all the citizens of the county; and the fund arising
from the sale of the "Public Road Bonds" shall be spent by
the said County Commissioners for the building and repair or
permanent improvement of public roads in said county as their
best judgment shall dictate, looking, however, to the best inter-
ests of all the citizens of the county.

SEC. 15. And be it further enacted, That in order to pro-
vide for the selling of said bonds, to be issued under the pro-
visions of this Act, the said County Commissioners or a ma-


 

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Session Laws, 1920
Volume 539, Page 1259   View pdf image (33K)
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