WM. PRESTON LANE, JR., GOVERNOR. 467

after provided for, a sum or sums of money not to exceed
$1,000,000. at a rate of interest not to exceed four per
cent. (4%) per annum, for the purpose of erecting new
school buildings, purchase of land for said buildings,
alterations of existing school buildings, equipping school
buildings and architects' or other professional fees in
connection with such construction. The County Commis-
sioners are hereby authorized and empowered to acquire
by purchase, lease or other transfer, any school property
which is of no further use to the Kent County Board of
Education by reason of the construction of any new school
buildings upon such terms as are mutually agreeable to
said Board of Education and said County Commissioners.

SEC. 3. And be it further enacted, That the said County
Commissioners are hereby authorized to borrow, under
the provisions of this Act, from such bank, banker or trust
company, or from any other source, as they shall from
time to time select. The said County Commissioners are
authorized to execute and deliver negotiable promissory
notes, certificates of indebtedness, or bonds of the County
Commissioners of Kent County, to be signed by the Presi-
dent of said County Commissioners and the Treasurer of
Kent County, with the seal of the said Coutny affixed
thereto, in such denomination or denominations payable
at such place and at such date or dates as the said County
Commissioners shall by resolution provide and/or to
issue and sell said notes, certificates of indebtedness, or
bonds upon the faith and credit of the County in such
amount or amounts as said Commissioners shall determine,
but the total amount of such notes and bonds issued under
this Act shall not exceed $1,000,000. The said notes,
certificates of indebtedness and/or bonds shall bear interest
at such rate or rates, not exceeding four per cent. (4%)
per annum, as shall be provided by resolution of the County
Commissioners, and in the event of issuance of bonds to
be evidenced by semi-annual coupons attached to said bonds
and bearing the facsimile signature of the Treasurer of
Kent County. If bonds are issued, the provisions of Sec-
tions 35 and 36 of Article 31 of the Annotated Code of
Maryland (1939 Edition), shall be complied with. Said
County Commissioners are authorized to borrow under
the provisions of this Act by selling the negotiable promis-
sory notes, certificates of indebtedness and/or bonds herein
authorized, at a discount less than the principal amount
thereof, provided that such discount shall not exceed four
per cent. (4%) per annum on the principal of said loan.
The said loan and every part thereof and every note, bond,