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Session Laws, 1922
Volume 563, Page 637   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 635

any holder thereof. The principal and interest thereof shall
be payable at some bank or trust company to be determined by
said Board of Education and the place of payment shall be
stated on the bonds and coupons.

SEC. 3. And be it further enacted, That the Board of Edu-
cation of Prince George's County shall advertise for sealed
bids for said bonds by inserting a notice in at least two daily
newspapers published in the City of Baltimore to be selected
by them at least once a week for two (2s) successive weeks
before the opening of said bids, and the said bonds shall be sold
to the highest responsible bidder therefor for cash, and the
terms of bidding and the amount of deposit required to be
made shall be in the discretion of the Board of Education who
shall have the right to reject any and all bids.

SEC. 4. And be it further enacted, That the Board of Edu-
cation of Prince George's County shall use the money received
from the sale of bonds issued hereunder immediately upon its
receipt for the specific purpose for which said bonds have been
issued, and for no other purpose whatever, provided, however,
that in case it shall not be necessary to use the full amount
authorized herein for the acquisition of the site and the con-
struction and equipment of the specific school for which such
money is appropriated, that then and in such case the balance
in the hands of the Board of Education of Prince George's
County from such specific appropriation may, with the ap-
proval of the County Commissioners, be applied to the pur-
chase of sites, the erection of new buildings, the addition to or
the alteration of existing school buildings, and the equipment
of such new additions or alterations at other places in said
county, where, in the discretion of the Board of Education the
same may be needed. The Board of Education of Prince
George's County is hereby given full power and authority to
do all manner of things in connection with the purchase, con-
struction and equipment authorized herein as may be necessary.

SEC. 5. And be it further enacted, That the County Com-
missioners of Prince George's County are hereby authorized
and directed to levy, each and every year after any bond issue
under the provisions hereof, as a separate fund for each of such
issues, a sufficient amount of money to meet the interest on said
bonds, and to create a sinking fund to pay said bonds at ma-
turity, until the last of said bonds issued under this Act shall
have been paid and cancelled. Such funds shall be deposited


 

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Session Laws, 1922
Volume 563, Page 637   View pdf image (33K)
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