576 LAWS OF MARYLAND. [Ch. 404]

order to provide the necessary funds for the purchase or con-
demnation of ground in Frederick City, and the erection,
repair and improvement of school buildings in Frederick City
and in the Town of Brunswick, and a site and new building for
public school in the village of Burkittsville in said county, and
the expenses incident thereto, are hereby directed to borrow
money on the credit of the county to an amount not exceeding
the sum of seventy-five thousand dollars, twenty-five thousand
dollars on May 1st, 1912. Twenty-five thousand dollars Sep-
tember 1st, 1912, and twenty-five thousand dollars on May 1st,
1913, and to issue bonds therefor, under the corporate seal of
said County Commissioners, to be signed by the president of
the Board of County Commissioners and countersigned by the
clerk thereof, in sums not less than one hundred dollars, and
not more than one thousand dollars, bearing interest from date
of issue thereof, at the rate of four and one-half per cent, per
annum; and said bonds shall have written or printed on them
a distinct reference to the act directing the issue of the same,
and said bonds when issued shall be exempt from municipal
and county taxation in Frederick county.

SEC. 2. And be it enacted, That the County Commissioners
shall cause to be levied and collected from the assessable prop-
erty in Frederick county a tax annually which shall be sufficient
to pay the interest on said bonds, and provide a sinking fund
for their redemption at or before maturity; and said tax shall
be collected in like manner as other taxes levied in said county
are collected, and when collected shall be applied to the pay-
ment of the interest on said bonds, to a sinking fund to redeem
said bonds at or before their maturity.

SEC. 3. And be it enacted, That said bonds shall be made
payable at the expiration of thirty years from the date of issue,
and shall be redeemable at any time after the expiration of
fifteen years from the date of issue, and they shall be sold
after due advertisement by the County Commissioners to the
highest bidder or bidders, provided, however, that none of said
bonds shall be sold for less than par value.

SEC. 4. And be it enacted, That the County Commissioners
shall, when notified by the Board of County School Commis-
sioners of said county that they desire to avail themselves of the
provisions of this act and of the amount of money they will
require for the purposes aforesaid, advertise and sell said bonds,
as above provided, to an amount sufficient to produce the sum
designated by the Board of County School Commissioners, but
in no event in excess of the said sum of seventy-five thousand
dollars; and shall pay over the proceeds of the sale of said