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Session Laws, 1961
Volume 654, Page 681   View pdf image (33K)
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J. MILLARD TAWES, GOVERNOR                            681

sold at private sale for less than par and accrued interest. All pay-
ments 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, together with any interest that may be received on
the same, shall be retained by the County Treasurer of Dorchester
County until needed to pay for the erection of new school buildings,
purchasing land for new school buildings, payment of architect's
and other professional fees in connection therewith, alteration or
repair of existing school buildings and equipping of school buildings
in Dorchester County.

Sec. 7. And be it further enacted, That the County Commissioners
of Dorchester County, for the purpose of redeeming said promissory
notes, certificates of indebtedness 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
Dorchester County as shall be necessary to pay the interest on any
such notes, certificates and/or bonds that may be issued and out-
standing hereunder, as the same shall become due and payable; and
also, in addition thereto, the said County Commissioners shall levy
annually a tax upon the assessable property of said county sufficient
to pay and retire all of said bonds as they shall mature; and the
said County Commissioners hereby are empowered to utilize for the
payment of any such interest or principal any part or all of any
State Incentive Building Funds which may be allocated to said
Dorchester County.

Sec. 8. And be it further enacted, That this Act shall be deemed
to provide an additional and alternative method for the doing of
things authorized and shall be regarded as supplemental and ad-
ditional to powers conferred by other laws, and shall not be regarded
as in derogation of any powers now existing. This Act, being neces-
sary for the welfare of the inhabitants of Dorchester County, shall
be liberally construed to effect the purposes hereof. All Acts and
parts of Acts, however inconsistent with the provisions of this
Act, are hereby repealed to the extent of such inconsistency.

Sec. 9. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved April 24, 1961.

CHAPTER 492
(House Bill 238)
AN ACT to repeal and re-enact, with amendments, Section 76 (g)

Explanation: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.

 

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Session Laws, 1961
Volume 654, Page 681   View pdf image (33K)
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