WM. PRESTON LANE, JR., GOVERNOR. 23

the provisions of Section 224 of the Code of Public Local
Laws of Montgomery County and also from the provisions
of Sections 34, 35 and 36 of Article 31 of the Code of Public
General Laws of Maryland (1939 Edition).

335-I. Said bonds shall be issued in denominations of One
Thousand Dollars ($1,000), Five Hundred Dollars ($500)
and Two Hundred Fifty Dollars ($250), in equal numbers
of each denomination, in the aggregate of all bonds of all
denomination not to exceed the par amount of Thirty-Five
Thousand Dollars ($35,000) such bonds to bear interest at a
rate not to exceed four per centum (4%) per annum and to
mature serially in equal amounts over a period of twenty
(20) years, accounting from the date of issue of such bonds.
Under no circumstances shall an amount in excess of Thirty-
Five Thousand Dollars ($35,000) be borrowed pursuant to
the authority of this Act, nor shall the aggregate par amount
of said bonds, exceed Thirty-Five Thousand Dollars ($35,000),
and if the full amount of Thirty-Five Thousand Dollars
($35,000) is borrowed, then the bonds issued in evidence of
such said borrowing shall be issued to mature in equal an-
nual serial installments of One Thousand, Seven Hundred
and Fifty Dollars ($1,750) each over the said period of
twenty (20) years.

335J. Said bonds shall be signed by the President of the
Board of County Commissioners of Montgomery County and
the corporate seal of the said County shall be affixed to each
bond, attested by the Clerk of the Board of County Com-
missioners of Montgomery County, and said bonds shall be
known as "1947 Upper Montgomery County Volunteer Fire
Department Bonds". The Board of County Commissioners
of Montgomery County shall have the full power and author-
ity, in said resolution above provided for, to fix and deter-
mine all other details incident to the issue and sale of said
bonds and the form and tenor thereof, subject only to the
limitations, provisions and conditions of this Act. Said
bonds, when and as issued, and the interest to accrue there-
on, and the income derived therefrom, in the hands of the
holders thereof from time to time shall be and are hereby
declared to be exempt from State, County and municipal
taxation of every kind and nature whatsoever in the State
of Maryland.

335K. The proceeds of the sale of said bonds shall be
payable by the purchaser or purchasers thereof to the Treas-
urer of Montgomery County who shall first deduct from the
said proceeds all amounts received on account of accrued