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Session Laws, 1953
Volume 606, Page 659   View pdf image (33K)
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THEODORE R. MCKELDIN, GOVERNOR 659

of Dorchester County to the highest responsible bidder or
bidders therefor, for cash, at not less than par, if the prices
are adequate in the judgment of said County Commis-
sioners; 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 ex-
cess 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 said County Commis-
sioners, the said County Commissioners may reject any or
all bids for said bonds, and such bonds subsequently may
be disposed of under the direction of the County Commis-
sioners of Dorchester County at private sale, upon the best
terms that can be obtained for the same; provided that
such bonds shall not be sold at 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
of Dorchester County.

SEC. 6. And be it further enacted, That out of the actual
cash proceeds from the sale of any of said bonds or from
said promissory notes or certificates of indebtedness, shall
be paid first the cost of printing and other outlays and
expenses and charges connected with the issue of the same,
and the entire balance of said actual cash proceeds, to-
gether with any interest that may be received on the same,
shall be retained by the County Treasurer of Dorchester
County until nee'ded to pay for the construction of two
classrooms at the Academy School on Mill Street in Cam-
bridge, Maryland, the construction of a gymnasium and
other school facilities at Cambridge High School and such
other needed repairs and facilities for said schools as the
Board of Education of Dorchester County and the County
Commissioners of Dorchester County may direct, and for
the payment of architects' and other professional fees in
connection therewith.

SEC. 7. And be it further enacted, That the County
Commissioners of Dorchester County, for the purpose of
redeeming said promissory notes, certificates of indebted-
ness and/or bonds at their maturity, and for the purpose
of securing the prompt payment of interest thereon, shall
levy annually such tax on the assessable property of Dor-
chester County as shall be necessary to pay the interest on
any such notes, certificates and/or bonds that may be
issued and outstanding hereunder, as the same shall be-


 

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Session Laws, 1953
Volume 606, Page 659   View pdf image (33K)
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