Theodore R. McKeldin, Governor                    819

Public School Construction Loan of 1957-1960"; and authorizing
the Board of County Commissioners of Caroline County to levy
taxes on the assessable property in said County to provide funds
for the payment of interest and principal as the same become
payable.

Section 1. Be it enacted by the General Assembly of Maryland,

That the Board of County Commissioners of Caroline County be

and it is hereby authorized and directed to borrow at one time, or
from time to time, upon the faith and credit of Caroline County

from the "Caroline County General Public School Construction Loan
of 1957 1960" or by the issuance of bonds as provided for in this

Act, an amount which when added to any other available State or

Federal funds shall equal Three Million Dollars ($3,000,000.00) for
the purpose of building new school houses, the construction of addi-
tions to existing school houses, or altering or repairing the same,
and for equipping such new or existing school houses, or for archi-
tects and other professional fees in connection with said buildings,
alterations, repairs or equipment, at the following locations in Caro-
line County, the approximate amount to be expended in each loca-
tion to be as shown in the following table, or for matching Federal
or for State funds for the above purposes.

July 1, 1957

Northern Senior High School to replace the present high

schools of Denton, Greensboro, and Ridgely....................................$1,450,000

Renovation of present high schools....................................         175,000

Federalsburg Replacement of Existing Federalsburg

Schools................................................................................................................................... 500,000

Total 1957....................................................................................................$2,125,000

January 1, 1960

Southern High School for Federalsburg and Preston. This

school is to be located somewhere between the two com-

munities.

Total 1960...................................................................................................$ 875,000

The first request of $2,125,000 is to be made available during the
fiscal year following July 1, 1957.

The second request of $875,000 is to be made available during the
fiscal year following July 1, 1960.

The foregoing amounts are intended as the approximate amounts
to be expended on each project named. The architect's estimate for
the project, including equipment, shall not be more than five per

cent. (5%) under the amounts set forth above and shall not be in

excess of any of such amounts, which estimates are to be submitted
to the State Department of Public Improvements for verification
prior to submission for bid.

SEC. 2. And be it further enacted, That any bonds issued under

the provision of this Act shall be in coupon form, but may be made

registerablo as to principal, shall be issued on the serial maturity
plan, and shall be known as "Public School Bonds of Caroline County
of 1957" ; the Board of County Commissioners shall by resolution

adopt the form of said bonds, fixing the date of issue, the denomina-

tions, place of payment, the maturities, provided that all of said