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Session Laws, 1936 (Special Session 1)
Volume 577, Page 371   View pdf image (33K)
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HARRY W. NICE, GOVERNOR. 371

shall determine to sell said bonds at public sale, then said
Board of County Commissioners shall provide in said
resolution the appropriate rules and regulations governing
the bids for said bonds, and they shall advertise at least
once a week for two successive weeks in one newspaper
published in the City of Baltimore, Maryland, and at least
once a week for two successive weeks in two newspapers
published in Montgomery County, Maryland, and by such
other advertisement as they shall think proper, that they
will be in readiness at the time and place to be named in
said advertisement within fifteen (15) days after the pub-
lication thereof in said newspapers to receive sealed bids
for the said bonds, including the amount thereof described
in said advertisement. Upon the day mentioned in said
advertisement for opening the bids for said bonds, as de-
scribed therein, the Board of County Commissioners shall
open such bids as may be received and the bonds so bid for
shall be awarded to the highest responsible bidder or bid-
ders therefor for cash, if the prices bid are adequate, in
the judgment of the Board of County Commissioners of
Montgomery County. The Board of County Commis-
sioners shall have the right to reject any or all of said bids
for said bonds and said Board may thereafter dispose
thereof at private sale upon the best terms that can be
obtained for the same, provided, however, that in any event
said bonds shall not be sold for less than par. All pay-
ments of the purchase price of such of said bonds as may
be sold shall be made to the Treasurer of Montgomery
County and shall by him be deposited in a special account
in some bank or banks located in Montgomery County and
shall by him be designated "Board of Education—Ken-
sington and Chevy Chase School Construction Account, ''
and funds shall be withdrawn from said account only upon
the order of the Board of Education of Montgomery
County.

SEC. 3. And be it further enacted by the General As-
sembly of Maryland, That the County Commissioners of
Montgomery County may, in its discretion proceed to is-
sue and sell as many of the bonds authorized to be issued
and sold hereby as may be necessary when the Board of
Education of Montgomery County shall request the same,
upon receipt of said request in writing from said Board of
Education of Montgomery County that the whole or any
part of the money authorized to be borrowed hereby be
made available to said Board for the purpose of financing
the school improvement projects hereinafter enumerated.

 

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Session Laws, 1936 (Special Session 1)
Volume 577, Page 371   View pdf image (33K)
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