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Session Laws, 1924
Volume 568, Page 215   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR, 215

and provide suitable and sufficient heating apparatus therefor;
that four of said Committee shall constitute a quorum; and the
concurrence of four of them shall be necessary for the decision
on all questions which may arise in the discharge of their dut-
ies; that all vacancies in said building Committee, whether from
death, refusal to act, resignation, or otherwise, shall be filled by
competent taxpayers from the Third Election District of said
County, to be selected by the County Commissioners of Caroline
County.

SEC. 2 And be it further enacted, That for the purpose of
raising the necessary money for erecting and constructing said
school building and equipping and furnishing the same, and pro-
viding the heating apparatus therefor, and for all other purposes
incidental thereto, the County Commissioners of Caroline County,
upon the written demand of the building Committee provided for
In this Act transmitted to the said County Commissioners through
the Board of Education of Caroline County, shall and they are
hereby authorized and directed within thirty days from the re-
ceipt of such demand, or as soon thereafter as possible, to issue and
sell coupon bonds on the faith and credit of Caroline County to an
amount aggregating the sum of One Hundred Thousand
Dollars ($100. 000. 00) to be issued in denominations of One
Thousand Dollars ($1, 000. 00) each, numbered consecutively one
to one hundred inclusive, and said bonds shall bear interest from
date of issue at the rate of four and one-half per centum
(4½%) per annum, payable semi-annually, and. shall mature
serially Five Thousand Dollars ($5, 000. 00) annually from date
of issue until all of said bonds have been redeemed; and said
bonds shall be signed by the President of the said County Com-
missioners and attested by the Treasurer of Caroline County
with the seal of the County Commissioners of Caroline County
attached and said bonds shall have printed thereon a distinct
reference to the Act directing their issuance and shall be des-
ignated "Caroline County Public School Bonds" and shall be
exempt from State, County and Municipal taxation in the State
of Maryland.

SEC. 3 And be it further enacted, That the County Commis-
sioners of Caroline County, be and they are hereby empowered
and directed to annually levy a tax upon the assessable property
of Caroline County sufficient to pay the interest on said Bonds
and also to pay and redeem said bonds when they respectively
become due and payable, and said tax shall be collected in like
manner as other taxes levied in said County are collected.

 

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Session Laws, 1924
Volume 568, Page 215   View pdf image (33K)
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