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Session Laws, 1924
Volume 568, Page 201   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 201

at any one time shall be redeemable as above set out, except,
that the amounts payable each year shall bear the proportion
to those in the aforegoing table that the total amount issued at
such time bears to the total amount authorized herein of $335, -
000. 00. The amounts coining due in any year, however, shall
be in even thousands of dollars and in case a fractional part
of a thousand dollars shall represent the amount coming* due
under the aforegoing provisions in any one year, then and in
that event the Board of Education of Prince George's County
is hereby authorized and directed at the time of the issuance
of said bonds to increase or decrease each serial amount in
order to provide for the payment of such issue in annual instal-
ments of one thousand dollars or multiples thereof as nearly
proportioned to the aforegoing table as practicable.

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 (2) successive weeks be-
fore the opening of said bids, and the said bonds shall be sold
to the highest responsible bidder, 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 Ed-
ucation of Prince George's County shall use the money re-
ceived from the sale of bonds issued hereunder immediately
upon its receipt for the payment of the necessary expenses of
the issue of the loan and then for the specific purposes for
which said bonds have been issued, and for no other purposes
whatever, provided, however, that in case it shall not be neces-
sary to use the full amount authorized herein for the acquisition
of the site and the construction or improvement and equip-
ment of the specific schools for which such money is appro-
priated, that then and in such case the balance in the hands
of the Board of Education of Prince George's County for such
specific appropriations may, with the approval of the County
Commissioners, be applied to the purchase of sites, the erec-
tion of new buildings, the addition to or the alteration of ex-
isting school buildings, and the equipment of such new addi-
tions 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

 

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Session Laws, 1924
Volume 568, Page 201   View pdf image (33K)
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