74                               LAWS OF MARYLAND                        [CH. 48

issued in the denomination of One Thousand Dollars ($1,000.00),
with coupons attached thereto for the payment of interest thereon,
semi-annually, until maturity; said bonds shall be signed by the
President of the County Commissioners of Wicomico County and
counter-signed by the County Treasurer of Wicomico County, with
the seal of said County affixed thereto; and the coupons shall be
signed by the facsimile signature of the County Treasurer of Wi-
comico County printed, engraved or lithographed thereon. Said
County Commissioners shall by resolution determine the rate or
rates of interest to be paid on the bonds, not exceeding five per
centum (5%) per annum, or the manner of determining the same,
which rates may vary on the bonds of different maturities, and the
maturity or maturities of the bonds, which shall be at a time or
times not exceeding twenty (20) years from the date of the bonds,
and shall likewise determine the form of the bonds, the medium of
payment, and the place at which the principal and interest shall be
payable. In case any of the officers whose signatures appear on the
bonds and coupons shall cease to be such officers before the delivery
of such bonds, such signatures shall nevertheless be valid and suf-
ficient for all purposes, as if they had remained in office until such
delivery. Should any of the persons designated to sign said bonds
be unable for any reason to do so, the County Commissioners of
Wicomico County shall by resolution authorize the execution thereof
by some other member or officer, and such execution shall be valid
and sufficient for all purposes as if the bond had been executed by
the person or persons originally designated. The bonds may be made
registerable, as to principal only, under such terms and conditions
as may be determined by said County Commissioners.

Sec. 3. And be it further enacted, That the County Commis-
sioners of Wicomico County shall advertise the sale of said bonds
in at least one newspaper published in Wicomico County, Maryland,
once a week for at least two successive weeks prior to the date of
their sale, said sale to take place not sooner than ten days after
the insertion of the first advertisement, and by such other advertise-
ment as may to it seem proper and advisable, inviting sealed pro-
posals 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 construc-
tion, or aiding in construction, making 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 and
premium 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 authorized by this Act, and any other expenses inci-
dental to the issuance and sale of said bonds, may be paid out of said
funds; and provided further, that should there remain any balance
of the proceeds of the sale of the bonds hereby authorized to be sold,
after the full and complete accomplishment of the purposes herein
set forth; such balance may be used at the discretion of the County