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Session Laws, 1941
Volume 582, Page 264   View pdf image (33K)
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264 LAWS OF MARYLAND. CH. 200

as follows, until the whole amount of $200, 000. 00 shall
have been issued and sold, $100, 000. 00 of said bonds shall
be dated July 1st, 1941, and shall be issued in series,
$5, 000. 00 thereof to mature and be paid on July 1st, 1942,
and $5, 000. 00 thereof to mature and be paid on July 1st
of each and every year thereafter for nineteen successive
years, and $100, 000. 00 of said bond issue to be dated July
1st, 1942, and shall be issued in series, $5, 000. 00 thereof
to mature and be paid on July 1st, 1943, and $5, 000. 00 to
mature and be paid on July 1st of each and every year
thereafter for nineteen successive years, until all of said
bonds shall have matured and been paid.

SEC. 3. And be it further enacted; That in order to pro-
vide for the sale of said bonds to be issued under the pro-
vision of this Act the said County Commissioners of
Washington County are hereby directed to advertise once
a week for four successive weeks before said bonds or any
part thereof shall be issued in two daily newspapers pub-
lished in the City of Hagerstown and in such other news-
papers as may be determined by the said County Commis-
sioners, that the said County Commissioners will be in
readiness at a certain time within fifteen days after the
expiration of said notice, to receive bids at such place as
may be named in said advertisements for bonds issued
under the provisions of this Act, under such regulations
as may be made in the discretion of said County Commis-
sioners, and the accrued interest between the date of the
bonds and the time of sale and delivery of and payment
for said bonds, shall be adjusted with the purchaser or
purchasers thereof, under such regulations as may be
made in the discretion of said County Commissioners, and
at the time mentioned in said advertisements as the time
for opening the bids for the proposals thereby called for,
the said County Commissioners shall receive such sealed
proposals, for the purchase of as many of such bonds as
may be mentioned or designated in said advertisements;
and on the opening of such sealed proposals, as many of
said bonds as have been so bid for shall be awarded by
the said County Commissioners to the highest responsible
bidder therefor for cash, if the prices bid are adequate in
the judgment of said County Commissioners; and when
two or more bidders have made the same bid and such
bid is the highest and the bonds so bid for by the highest
responsible bidders are in excess of the whole amount of
the bonds offered for sale, such bonds shall be awarded
to such responsible bidders bidding the same price in a
ratable proportion; and if any of said bonds so offered for
sale are not bid for or if any insufficient price be bid for

 

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Session Laws, 1941
Volume 582, Page 264   View pdf image (33K)   << PREVIOUS  NEXT >>


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