724 LAWS OF MARYLAND. [CH. 416

($200,000.) and to issue coupon bonds, the proceeds
to be used by the Somerset County Board of Educatiton for
the acquisition of a site or sites and construction of a public
school building or buildings or additions or modifications to
existing structures in Somerset County and providing for
the levying of taxes necessary for the payment of such bonds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Somerset County are
hereby authorized and directed to borrow upon the faith and
credit of said county an amount not to exceed Two Hundred
Thousand Dollars ($200,000.) and to issue and sell, from time
to time, twenty-year serial bonds not exceeding that amount.

SEC. 2. And be it further enacted, That such bonds shall
bear interest at a rate not exceeding three (3) per centum
and shall be issued on the serial maturity plan so that one-
twentieth of the principal amount of the bonds issued is
retired each year. The County Commissioners of Somerset
County shall by resolution prescribe the form and tenor of
such bonds, the date or dates of issue, the amounts of issue
and the time and place at which interest is to be paid. Such
bonds shall be signed by the President of the Board of County
Commissioners, countersigned by the County Treasurer, and
the corporate seal of the county shall be attached thereto by
the Clerk of the County Commissioners and the interest cou-
pons attached to each of such bonds shall bear the facsimile
signature of the County Treasurer printed, lithographed or
engraved thereon.

SEC. 3. And be it further enacted, That any bonds issued
under the provisions of this Act shall be issued and sold in
the manner prescribed by Sections 35 and 36 of Article 31 of
the Annotated Code of Maryland (1939 Edition), and any
amendments thereto.

SEC. 4. And be it further enacted, That the entire proceeds
arising from the sale of any bonds issued under the pro-
visions of this Act, after the payment of costs of engraving
and all other incidental costs and expenses connected with the
issuance of the bonds shall be paid over by the County Com-
missioners to the County Treasurer and retained by him,
subject to the order of the Somerset County Board of Educa-
tion. The Somerset County Board of Education is authorized
and empowered, with the approval of the County Commis-
sioners, to expend the aforesaid funds, either alone or in con-
nection with any State or Federal funds as may be made avail-
able, to provide for the acquisition of a site or sites and the