378 LAWS OF MARYLAND. [CH. 190
school grounds in the following schools and localities in
Allegany County Lindnerville, Flintstone, Cumberland,
Barton, Luke, Westernport, Frostburg, Midland, Lona-
coning and Eckhart; and to issue bonds therefor, and to
levy on the assessable property in Allegany County an
annual tax sufficient to pay said bonds as they mature and
to pay the interest thereon as it becomes due.
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Allegany County, in
order to provide funds necessary to purchase new school sites,
for the erection of new school buildings, for additions, altera-
tions and improvements in old school buildings, for equipping,
heating, lighting and ventilating old and new school build-
ings in Allegany County, are hereby authorized and directed
to borrow money on credit of said Allegany County, and to
issue and sell bonds therefor to an amount not to exceed
seven hundred thousand dollars ($700,000), under the cor-
porate seal of said Board of County Commissioners of Alle-
gany County, to be signed by the President of said Board of
County Commissioners of Allegany County and to be counter-
signed by the Clerk thereof, in denominations of one hundred
dollars ($100.00), five hundred dollars ($500.00), or one thou-
sand dollars ($1000.00) each as may seem advisable to said
Board of County Commissioners of Allegany County, three
hundred fifty thousand dollars ($350,000.00) of said bonds to
be dated July 1st, nineteen hundred twenty (1920) and three
hundred fifty thousand dollars ($350,000.00) of said bonds
to be dated July 1st, nineteen hundred twenty-one (1921), and
all of said bonds to bear interest from date, payable semi-
annually at a rate not to exceed five per cent (5%) per annum
to be determined by said County Commissioners of Allegany
County, said bonds when issued shall have written or printed
on them a distinct reference to the Act directing the issue
of the same and shall be designated respectively "Allegany
County School Bond Issue of Nineteen Hundred Twenty"
and "Allegany County School Bond Issue of Nineteen Hun-
dred Twenty-one," and the said bonds when issued shall be
exempt from municipal and county taxation in Allegany
County.
SEC. 2. And be it enacted, That said bonds shall be so
issued that a series of said issue designated '' Allegany County
|
|