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Session Laws, 1929
Volume 572, Page 835   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 835

issue and sell a series of bonds as provided for in Section 2
hereof, the said The County Commissioners of Washington
County are hereby authorized 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 therefor becomes due under said con-
tracts, and to issue certificates 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. 7. And be it further enacted, That the money aris-
ing from the sale of bonds shall be deposited in a separate
and special account in some banks, savings institutions or
trust companies by the County Commissioners of Washington
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 checks signed by the President of the said County
Commissioners of Washington County, countersigned by the
Clerk of said Board.

SEC. S. And be it further enacted, That from the proceeds
of the sale of said bonds the said County Commissioners of
Washington County shall first pay the costs and expenses in-
curred 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 contract awarded under the provisions
of Section 5 hereof, and the said Board of Education shall
notify the said County Commissioners of Washington County
of the sum or sums of money then due, and shall accompany
said written notification with the certificate of the supervis-
ing architect that the work and labor has been performed and
materials furnished according to the terms of the contract,
and that said sums of money are due and payable, the said
County Commissioners of Washington County shall pay to
the said Board of Education the said sums of money so certified
to be due and payable, up to the amount, respectively, as set
forth in Section 4 hereof.

SEC. 9. And be it further enacted, That the provision of
this Act shall be construed as additional and supplementary
to and not in substitution for or in conflict with any of the
provisions of the General Laws of this State relating to pub-


 

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Session Laws, 1929
Volume 572, Page 835   View pdf image (33K)
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