SPIRO T. AGNEW, Governor                       745

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 impowered to finance the construction of public
schools, as defined in Section 1 of this Act, for the use of the Board of
Education of Frederick 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 Three Million Five
Hundred Thousand Dollars ($3,500,000.00) 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
become necessary, provided, however, that the total debt which may
be incurred pursuant to the authority of this Act shall not exceed
Three Million Five Hundred Thousand Dollars ($3,500,000.00).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolution
describing the public school or schools for which said borrowing or
indebtedness is intended, the amount needed for said purposes in the
aggregate, 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 resolution, 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 complete authority
and discretion to fix and determine, in said resolution, the form and
tenor of any such bonds, the rate or rates of interest payable thereon,
or the method of arriving at the same, the date or dates upon which
said bonds shall respectively mature and be payable, the manner of
selling said bonds at public sale, and generally all matters incident or
necessary to the issuance, sale and delivery thereof. The bonds of
each such issue shall be dated, shall bear interest at such rate or
rates not exceeding six per centum (6%) per annum, payable semi-
annually, shall mature at such time or times as may be determined by
said resolution, and said bonds may, by said resolution, be made
redeemable before maturity, at the option of the County, at such price
or prices and under such terms and conditions as may be fixed by said
County, either in said resolution or in subsequent resolutions, but
prior to the issuance of said bonds. The principal of and the interest
on said bonds may be made payable in any lawful medium. Said
resolution shall determine the form of said bonds, including any
interest coupons to be attached thereto, and the manner of executing
and sealing the same, which may be by facsimile, and shall fix the
denomination or denominations of the bonds and the place or places