710 LAWS OF MARYLAND. [CH. 406

bids. Said bonds shall not be sold except for cash, nor for
less than par, and when issued shall be exempt from State,
County and municipal taxation. Said bonds shall be signed
by the President of said Board of Education of Prince
George's County and countersigned by the County Superin-
tendent of Schools and endorsed by the President of the
Board of County Commissioners of Prince George's County
and the Clerk to said Board, with the corporate seals of said
Boards; provided that the coupons for the interest attached
thereto may be authenticated by the engraved, lithographed
or printed signatures of the President of the said Board of
Education and the County Superintendent. Said bonds may
be registered as to the. principal by the County Superin-.
tendent of Schools in a separate book kept by him for that
purpose, if such registration is desired by the holder thereof.
The principal and the interest thereon shall be paid at some
bank or trust company to be determined by the Board of
County Commissioners and the place of payment shall be
stated on the bonds and on the coupons. In case such bonds
or any of them shall be issued in any year after the making
of the annual levy for the year by the Board of County Com-
missioners of Prince George's County, then said Board of
County Commissioners of Prince George's County is author-
ized and directed to pay any or all interest coming due before
the next levy out of any other funds at their disposal and to
levy at the next levy to reimburse such other funds.

SEC. 5. And be it further enacted, That in order to redeem
said bonds and to pay the interest and principal thereof when
and as the same may become due, the Board of County Com-
missioners of Prince George's County are hereby authorized
and directed to levy in each and every year upon the taxable
basis of said Prince George's County, a tax sufficient to pay
the bonds maturing during such year in accordance with the
provisions thereof, and to pay interest on all of the bonds
authorized by this Act, which may be outstanding and un-
redeemed in such year, and the proceeds of such levy when
collected and paid shall be used for the purpose, and for no
other purpose than that for which such levy was made.

SEC. 6. And be it further enacted, That the Board of Edu-
cation of Prince George's County shall use the money re-
ceived from the sale of said bonds, or any part thereof, issued
hereunder immediately upon its receipt for the payment of
the necessary expenses of the issue of the loan and then for
the specific purposes for which said bonds have been issued,
and for no other purposes whatsoever; provided, however,
that in case it shall not be necessary to use the full amount