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Session Laws, 1945
Volume 589, Page 459   View pdf image (33K)
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HERBERT R. O'CONOR, GOVERNOR. 459

many of said bonds as may have been so bid for shall be
awarded by the County Commissioners of Baltimore County to
the highest responsible bidder or bidders therefor for cash at
not less than par, if the prices bid are adequate in the judgment
of the County Commissioners; and when two or more bidders
have made the same bid and such bid is the highest and for the
whole amount of the bonds so offered for sale, or taken together
in excess of said whole amount, such bonds shall be awarded to
such highest 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 them in
the judgment of the County Commissioners, said County Com-
missioners may reject any or all bids for said bonds, and they
may be subsequently disposed of under the direction of the
County Commissioners of Baltimore County at a private sale
upon the best terms that can be obtained for the same; pro
vided they shall not be sold at a private sale for less than par
and accrued interest. All payments of the purchase price of
said bonds shall be made to the County Treasurer.

SEC. 3. And be it further enacted, That out of the actual
cash proceeds from the sale of any of said bonds shall be first
paid the cost of printing and other outlays and expenses and
charges connected with their issue and the entire balance of
said actual cash proceeds, together with any interest that may
be received on the same, shall be retained by the County Treas-
urer of Baltimore County, until needed to pay for planning,
construction and permanent improvement of public roads,
highways and bridges, and storm water drainage in Baltimore
County, and the purchase of any land, ways, rights of way,
roads or easements necessary therefor. Said payments for the
aforesaid purposes, and for no other purposes, shall be made
from time to time by the County Treasurer as ordered by the
County Commissioners of Baltimore County. The County
Commissioners shall not issue any such order for the disburse-
ment of any of said funds except upon the written recommenda-
tion of the Roads Engineer of Baltimore County. Said recom-
mendation shall outline in detail the estimated amount and
desirability of the proposed expenditure; the nature of the
work to be done or the property to be acquired, including the
location of the project, its size, and the general specifications,
if any are necessary.

SEC. 4. And be it further enacted, That the County Com-
missioners of Baltimore County, for the purpose of redeeming
said bonds at their maturity and for the purpose of securing
the prompt payment of interest thereon, shall annually levy
such tax on the assessable property of Baltimore County as
shall be necessary to pay the interest on any bonds that may be

 

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Session Laws, 1945
Volume 589, Page 459   View pdf image (33K)
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