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Session Laws, 1927
Volume 569, Page 1224   View pdf image (33K)
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1224 LAWS OF MARYLAND. [CH. 591

said Board of Education or by any person interested in the
faithful performance of said contract.

SEC. 10. And be it further enacted, That, if and whenever
the said Board of Education shall determine upon the erection
of either or any of the public school buildings designated in
Section 2 hereof, and shall let the contract or contracts therefor
as provided in Section 9 hereof, and shall desire that the work
of the erection of said building or buildings shall be commenced
and carried forward before it shall be possible to issue and sell
a series of bonds as provided for in Section 5 hereof, the said
The County Commissioners of Carroll County are hereby au-
thorized and empowered to borrow upon the faith and credit
of said county such sums of money as shall be sufficient and
necessary to meet and pay the contract price for such building
or buildings as the work thereon shall progress, and payment
therefore becomes due under said contracts, and to issue cer-
tificates of indebtedness for said sums so borrowed, and shall
pay said certificates of indebtedness out of the proceeds of the
sale of the first series of bonds issued thereafter.

SEC. 11. And be it further enacted, That the money arising
from the sale of said bonds shall be deposited in a separate and
special account in some bank, savings institution or trust com-
pany, by the Treasurer of Carroll County, that will guarantee
to pay interest on daily balances at the best rate obtainable,
and the said money shall be paid out only on check signed by
the President of the said The County Commissioners of Carroll
County and the Treasurer of said county.

SEC. 12. And be it further enacted, That from the proceeds
of the sale of said bonds, the said The County Commissioners
of Carroll County shall first pay the costs and expenses incurred
in the preparation, issue and sale of said bonds; and then,
whenever any sum or sums of money shall become due to any
contractor under contracts awarded under the provisions of
Section 9 hereof, and the said Board of Education shall notify
the said The County Commissioners of Carroll County of the
sum or sums of money then due, and shall accompany said
written notification with the certificate of the supervising archi-
tect that the work and labor has been performed and materials
furnished according to the terms of contract, and that said sums
of money are due and payable, the said The County Commis-
sioners of Carroll County shall pay to the said Board of Educa-
tion or directly to the said contractor or contractors, at the
option of the said Board of Education, the said sums of money,
so certified to be due and payable,

SEC. 13. And be it further enacted, That the said The County
Commissioners of Carroll County are hereby authorized and

 

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Session Laws, 1927
Volume 569, Page 1224   View pdf image (33K)
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