PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 503

($100,000) thereof shall mature and be redeemed, that is to
say, Bonds Nos. 1 to 100, inclusive, shall be due and payable
on the first day of July, 1913; Bonds Nos. 101 to 200, inclu-
sive, shall be due and payable on the first day of July, 1914,
and so on, according to their consecutive numbers, one hun-
dred of said bonds being due and payable in every year until
the whole issue thereof, shall have been paid off and redeemed;
and whenever any bond or bonds shall have been paid off or
redeemed, it or they shall be cancelled and destroyed by the-
County Commissioners of Baltimore County, and a note there-
of made on the minute book of the proceedings of the County
Commissioners of Baltimore County. The said bonds, when
so issued, shall be and become a lien upon all the assessable
property in Baltimore county.

When said bonds shall be properly prepared and duly exe-
cuted as herein prescribed, the said County Commissioners of
Baltimore County shall advertise the same in two or more
newspapers published in Baltimore county and in a daily
newspaper published in Baltimore City, with such other adver-
tisements as they may deem proper and for the best interests
of the citizens of Baltimore county, inviting sealed proposals
for the purchase of said bonds, or any part threeof, with the.
privilege to the said County Commissioners to reject any and
all bids; the County Commissioners of Baltimore County afore-
said, may advertise the said bonds for such length of time-
as in their discretion is adequate notice to the public, and
may offer and sell all of said bonds then ready for sale, for
sale at the time or may offer and sell them at different inter-
vals, in such instalments and amounts as they may deem
advantageous for the purposes of carrying on the work for
which the same are issued; provided, however, that no bid or
bids for any such bond or bonds shall be rejected by the said
County Commissioners, unless such bid is below the par value
thereof, and if any of said certificates so offered for sale are-
not bid for, or if the price bid for them be below par and
insufficient, they may be subsequently disposed of by the
County Commissioners, or a majority of them, at private sale,
upon the best terms they can obtain for the same; provided,
they shall not be sold at private sale for less than par and
accrued interest.

The money arising from the sale of the said bonds shall be
kept as a separate fund by the treasurer of Baltimore county
and to be deposited in such bank or banking institution as-
shall be designated in writing by the Good Roads Commis-
sion, to be exclusively used for the purposes of this act and