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Session Laws, 1950
Volume 587, Page 311   View pdf image (33K)
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WM. PRESTON LANE, JR., GOVERNOR 311

urer of Charles County and with the seal of said County
affixed thereto. The entire proceeds of such bonds, after
payment of costs of engraving and all other incidental ex-
penses connected with the issuance of such bonds, shall be
used for the purpose of making alterations, additions, and
improvements to and for the purpose of equipping school
buildings in Charles County as provided hereinbelow in
this Act.

SEC. 2. And be it further enacted, That said bonds
if issued shall be issued in such denominations as shall be
determined by the said County Commissioners, and shall
bear interest at a rate to be determined by said Commis-
sioners, not in excess of four per cent. (4%) per annum.
The issue of said bonds must comply strictly with the pro-
visions of Sections 35 and 36 of Article 31 of the Annotated
Code of Maryland (1939 Edition); said bonds shall be ex-
empt from all State, county and municipal taxation, and
shall have printed on them a distinct reference to the Act
authorizing their issuance.

SEC. 3. And be it further enacted, That the County
Commissioners of Charles County, in the event any of said
bonds are issued, be and they are hereby authorized and
directed to levy each year so long as said bonds are out-
standing and not paid a tax sufficient to redeem the same at
their maturity and to pay the interest thereon, the pro-
ceeds of said tax to be kept in a special fund and in no case
to be used for any other purpose. In case such bonds shall
be issued in any year after the making of the regular levy
for that year, then said Commissioners are authorized and
directed to pay any and all interest coming due before the
next levy out of any other funds at its disposal and to levy
at the next succeeding levy, to reimburse such other funds.

SEC. 4. And be it further enacted, That the County
Commissioners of Charles County be and they are hereby
authorized and empowered to do all acts and things neces-
sary to issue and sell said bonds, to have the same regis-
tered if necessary, and to do all things necessary to carry
out the purposes of this Act, even though the same may
not be specifically mentioned herein or in any other Act
relating to said County.

SEC. 5. And be it further enacted, That any and all
additions, alterations and improvements made to the school
buildings in the manner aforementioned and any and all
purchases of equipment shall be subject to the approval of


 

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Session Laws, 1950
Volume 587, Page 311   View pdf image (33K)
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