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Session Laws, 1953
Volume 606, Page 462   View pdf image (33K)
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462 LAWS OF MARYLAND [CH. 254

County, Maryland, once a week for at least three successive
weeks prior to the date of their sale, and by such other
advertisement as may to them seem proper and advisable,
inviting sealed proposals for the purchase of said bonds or
any part thereof with the privilege of rejecting any or all
bids, and no bid shall be accepted at less than par and
accrued interest; the entire issue of bonds may be offered
at one time or they may be offered in varying amounts at
different intervals, as may seem most advantageous to the
County Commissioners of Wicomico County and the Board
of Education of Wicomico County in constructing, erecting,
completing the construction, or aiding in construction, mak-
ing additions and improvements to and equipment of
schools for the erection of which the proceeds of said bonds
are to be used; and no part of the money arising from the
sale of said bonds shall be used except for the purposes
designated and provided for in this Act, except that any
accrued interest shall be set aside in a separate interest
fund and be devoted to the payment of the first maturing
coupons, and provided further, that the cost of engraving
or printing of said bonds and the cost of advertising author-
ized by this Act, and by any other expenses incidental to
the issuance and sale of said bonds, may be paid out of said
funds.

SEC. 4. And be it further enacted, That the proceeds
arising from the sale of said bonds shall be paid over to
the Treasurer of Wicomico County, and credited by him
to the County Commissioners of Wicomico County and the
Board of Education of Wicomico County, to be used in the
joint discretion of the members of said County Commis-
sioners and Board of Education and under their joint
supervison and direction for building or aiding in building,
making additions and improvements to and equipping the
aforesaid school buildings. Said County Commissioners
and Board of Education shall have full joint authority to
contract for, supervise, direct and control such work in
such manner as in their discretion they may deem to the
best public interest, and full power is given to them to
employ and pay out of the said funds all architects, build-
ers, or other persons, supervisors or agents, as to them may
seem advisable and necessary; and they shall divide and
allot said funds to said buildings and equipment, but not
exceeding the amounts allotted or specified for each except
as to the use of said contingency fund of Fifty Thousand
Dollars ($50, 000. 00) which may be allotted to any or all of
said projects as said joint boards shall determine. Each
such project is to be or have substantially the type of im-


 

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Session Laws, 1953
Volume 606, Page 462   View pdf image (33K)
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