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Session Laws, 1931
Volume 580, Page 887   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR.                  887

directing the issue of the same, and that said bonds when issued
shall be exempt from municipal and county taxation in Gar-
rett County, and they shall be sold after due advertisement by
the County Commissioners to the highest bidder or bidders.

SEC. 3. And be it further enacted, That the said County
Commissioners of Garrett County shall levy annually upon
the assessable property of said county a tax sufficient to pay
the interest upon said bonds, and in the year 1933 they shall
levy the sum of ten thousand dollars ($10, 000) to meet the
first maturing bonds issued, and annually thereafter the said
County Commissioners shall levy upon the assessable property
of said county the sum of ten thousand dollars ($10, 000) for
the payment of such bonds as annually mature until the ma-
turity of the last bonds by this Act authorized to be issued.

SEC. 4. And be it further enacted, That the clerk of the
County Commissioners of Garrett County shall record the said
bonds when the same are sold, showing to whom the same were
sold, what price was obtained therefor, the serial number there-
of and shall keep a record upon the books of said County Com-
missioners of all bonds paid.

SEC. 5. And be it further enacted, That the County Com-
missioners of Garrett County shall, when notified by the Coun-
ty Board of Education of said county that they desire to avail
themselves of the provisions of this Act and of the amount of
money they will require for the purposes aforesaid, the said
Board of County Commissioners shall advertise and sell such
proportionate part of said bonds as above provided to an
amount sufficient to produce the sum designated by the said
County Board of Education, and shall pay over the total pro-
ceeds of the sale of said bonds to the County Board of Educa-
tion, which board shall account for the same in the same man-
ner as they account for other moneys passing through their
hands.

SEC. 6. And be it further enacted, That the County Com-
missioners of Garrett County shall have the option to redeem
any or all of said bonds outstanding after three years from the
date of their issue.

SEC. 7. And be it further enacted, That before the issuing
of said bonds or any of them, the question of the issuing of

 

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Session Laws, 1931
Volume 580, Page 887   View pdf image (33K)
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