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Session Laws, 1950
Volume 587, Page 305   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR 305

CHAPTER 42
(Senate Bill 112)

AN ACT to authorize and empower The County Commis-
sioners of Dorchester County to borrow at one time or
from time to time, upon the faith and credit of Dor-
chester County, and to issue and sell at one time or from
time to time its negotiable promissory notes, certificates
of indebtedness or bonds therefor, a sum or sums of
money not to exceed Three Million Dollars ($3,000,-
000.00), at a rate of interest not to exceed four (4) per
centum per annum, for the purpose of erecting new
school buildings, purchasing land for new school build-
ings, payment of architect's and other professional fees
in connection therewith, alteration or repair of existing
school buildings and equipping of school buildings in
Dorchester County, or for matching Federal funds for
such purposes; and to levy taxes upon the assessable
property in Dorchester County to provide funds for
the payment of interest and principal upon the said
notes, certificates or bonds, as the same shall mature
and become payable, and to permit the use for such pay-
ment purposes of any State Building Incentive Funds
allocated to said Dorchester County; and to repeal
Chapter 308 of the Laws of 1949.

SECTION 1. Be it enacted by the General Assembly o j Maryland,
That The County Commissioners of Dorchester County be
and they hereby are authorized and empowered to borrow
at one time or from time to time, upon the faith and credit
of Dorchester County, and to issue and sell at one time
or from time to time its bonds therefor, a sum or sums of
money not to exceed Three Million Dollars ($3,000,-
000.00), at a rate of interest not to exceed four (4) per
centum per annum, for the purpose of erecting new school
buildings, purchasing land for new school buildings, pay-
ment of architect's and other professional fees in connec-
tion therewith, alteration or repair of existing school
buildings and equipping of school buildings in Dorchester
County, or for matching' Federal funds for such purposes.
The first issue and sale of such bonds shall be in an amount
not to exceed One Million and Three Hundred Thousand
Dollars ($1,300,000.00), and subsequent issues and sale of

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike-out indicates matter stricken out of bill.


 

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Session Laws, 1950
Volume 587, Page 305   View pdf image (33K)
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