82                               LAWS OF MARYLAND                       [CH. 78

ceived from the State of Maryland and the United States of
America, which may be properly allocable to said purpose; em-
powering and directing said County to contract to levy and to levy,
impose and collect annually ad valorem taxes which, in addition
to the State and Federal allotments, if any, will provide funds suffi-
cient for the payment of said maturing principal and interest; and
exempting said bonds and said refunding bonds and the interest
thereon from all State, county and municipal taxation in the State
of Maryland.

Section 1. Be it enacted by the General Assembly of Maryland,
That, as used herein, the term "County" shall mean the body politic
and corporate of the State of Maryland known as the County Com-
missioners of Talbot County, and the term "public schools" shall
include the construction, reconstruction, improvement, extension, ac-
quisition, alteration, repair and modernization of public school build-
ings or buildings for school purposes in Talbot County, including
sites therefor, the cost of acquiring any such sites, architectural and
engineering services, including preparation of plans, drawings and
specifications for such schools and the development of the grounds
and landscaping thereof, and all customary permanent appurtenances
and recreational and pedagogical equipment for such schools.

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction of public
schools, as defined in Section 1 of this Act, for the use of the Board
of Education of Talbot County and, in order to make such financing
possible, said County is hereby granted the power and authority to
borrow money and incur indebtedness for such purpose, from time
to time, in an amount not exceeding the sum of Two Million, One
Hundred Fifty Thousand Dollars ($2,150,000) and to evidence such
borrowing by the issuance and sale upon its full faith and credit of
its serial maturity, general obligation coupon bonds in like par
amount, upon the terms and conditions hereinafter set forth. Such
bonds may be issued from time to time, in one or more groups or
series, as funds for such public school construction or acquisition be-
come necessary, provided, however, that the total debt which may
be incurred pursuant to the authority of this Act shall not exceed
Two Million, One Hundred Fifty Thousand Dollars ($2,150,000).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issu-
ing any bonds pursuant to the authority of this Act, adopt a resolu-
tion describing generally by classes the public school or schools for
which said borrowing or indebtedness is intended, the amount
needed for said purposes, and determining to borrow money or incur
indebtedness for all or a part of the amount so needed, and to issue
its bonds to evidence such borrowing or indebtedness. Each series
or group of said bonds shall be issued to mature in annual serial
installments, the last installment to mature not later than thirty (30)
years from the date of issue of said group or series. In said resolu-
tion, said County shall fix the annual serial maturity plan with
respect to the bonds to be issued thereunder and said annual serial
maturities shall be so fixed as to conform to the general financial
plans of the County but need not be in equal par amounts or in
consecutive annual installments. Subject to the limitations herein
contained, said County shall have and is hereby granted full and