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Session Laws, 1939
Volume 581, Page 1328   View pdf image (33K)
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1328 LAWS OF MARYLAND. [CH. 648

lution of the said Board of Education and in the order of the
said County Commissioners passed in pursuance of the above:
Sixty Thousand Dollars ($60,000.00) or so much thereof as
may be necessary for the construction and equipment of a
school building, or an addition to a school building in or near
the town of Beltsville.

SEC. 4. And be it further enacted, That the Board of Edu-
cation shall be empowered to sell said bonds or any part there-
of authorized in the above resolution, by bid of sealed pro-
posals at the offer which in the discretion of said Board is most
advantageous to the county, after having given such public
notice as it may deem proper of the time, place, manner, and
terms of sale, right being reserved to reject any or all bids.
Said bonds shall not be sold except for cash, nor for less than
par, and when issued shall be exempt from State, county and
municipal taxation. Said bonds shall be signed by the Presi-
dent of said Board of Education of Prince George's County
and countersigned by the County Superintendent of Schools
and endorsed by the President of the Board of County Com-
missioners of Prince George's County and the Clerk to said
Board, with the corporate seals of said Boards; provided that
the coupons for the interest attached thereto may be authenti-
cated by the engraved, lithographed or printed signatures of
the President of the said Board of Education and the County
Superintendent. Said bonds may be registered as to the prin-
cipal by the County Superintendent of Schools in a separate
book kept by Mm for that purpose, if such registration is de-
sired by the holder thereof. The principal and the interest
thereof shall be paid at some bank or trust company to be
determined by the County Commissioners and the place of pay-
ment shall be stated on the bonds and on the coupons. In case
such bonds or any of them shall be issued in any year after
the making of the annual levy for the year by the Board of
County Commissioners of Prince George's County, then said
Board of County Commissioners of Prince George's County
is authorized and directed to pay any or all interest coming
due before the next levy out of any other funds at their dis-
posal and to levy at the next levy to reimburse such other
funds.

SEC. 5. And be it further enacted, That in order to redeem
said bonds and to pay the interest and principal thereof when
and as the same may become due, the County Commissioners
of Prince George's County are hereby authorized and directed
to levy in each and every year upon the assessable basis of
said Prince George's County, a tax sufficient to pay the bonds
maturing during such year in accordance with the provisions,


 

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Session Laws, 1939
Volume 581, Page 1328   View pdf image (33K)
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