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Session Laws, 1949
Volume 590, Page 1453   View pdf image (33K)
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WM. PRESTON LANE,, JR., GOVERNOR. 1453

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 disposal and to levy at the next levy to reimburse such
other funds. Should any of the persons designated to sign
said bonds or the endorsement thereon be unable for any
reason to do so, the Board of County Commissioners or the
Board of Education, as the case may be, shall by resolution
authorize the execution thereof by some other member or
officer of the respective Boards, and such execution shall be
as fully effective as if the execution had been by the person
originally designated herein. Should any person signing
said bonds or the endorsement thereon die or become in-
capacitated before the delivery of the same, such signature
shall be equally effective to bind the Board of Education and
the Board of County Commissioners as if delivery had been
made before such death or incapacity.

SEC, 5. And be it further enacted, That in order to pay
the principal and interest on said bonds when and as the
same become due and payable, the Board of County Commis-
sioners of Prince George's County are hereby authorized and
directed to levy in each and every year in which any of said
bonds are outstanding upon the taxable basis of said Prince
George's County, a tax sufficient in rate and amount to pay
the bonds maturing during such year in accordance with the
provisions thereof, and to pay interest on all of the bonds
authorized by this Act, which may be outstanding in such
year, and the proceeds of such levy when collected and paid
shall be used for the purpose, and for no other purpose than
that for which such levy was made.

SEC. 6. And be it further enacted, That the proceeds from
the sale of said bonds, except as hereinafter set forth, shall
be used exclusively for the specific purposes for which said
bonds have been issued, and for no other purposes whatso-
ever, except that all expenses incurred in the sale and de-
livery of the bonds shall be payable from said funds; pro-
vided, however, that in case it shall not be necessary to use
the full amount authorized for the construction or improve-
ment and equipment of the specific school or schools for
which such money is appropriated, then and in such case the
balance in the hands of the Board of Education of Prince
George's County for such specific appropriations may, with
the approval of the Board of County Commissioners, be ap-
plied to the erection of new buildings, the addition to or the
alteration of existing school buildings, the purchase of sites,
and the equipment of such new additions or alterations at

 

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Session Laws, 1949
Volume 590, Page 1453   View pdf image (33K)
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