WM. PRESTON LANE, JR., GOVERNOR. 749

Prince George's County shall deem it advisable it may, issue
bonds on the faith and credit of Prince George's County not
to exceed Eight Hundred Thousand Dollars ($800,000.00),
which said bonds shall have semi-annual interest coupons
attached and shall be issued according to what is known as
the serial annuity plan. The Board of County Commissioners
shall fix the date of issue, determine the denomination of
not less than One Hundred Dollars ($100.00) nor more than
One Thousand Dollars ($1,000.00), fix the amount to be paid
each year, provided that no bond shall mature more than
twenty-five (25) years from the date of issue; and fix the rate
of interest to be paid on said bonds or designate how the rate
of interest may be determined when said bonds are offered
for sale, provided said interest rate shall not exceed five per
cent (5%) per annum.

SEC. 2. And be it further enacted. That the Board of County
Commissioners shall be empowered to sell bonds or any part
thereof authorized herein by bid of sealed proposals at the
offer which in the discretion of said Board is most advanta-
geous to the County, after having given such public notice as
it may deem proper of the time, place, manner, and terms of
sale, right being reserved to reject any or all 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 the
Board of County Commissioners of Prince George's County
and the Clerk to said Board, with the corporate seal of said
Board; 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. Said
bonds may be registered as to the principal by the Clerk to said
Board in a separate book kept by him for that purpose, if
such registration is desired by the holder thereof. The prin-
cipal and the interest thereof shall be paid at some bank or
trust company to be determined by the 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 Commissioners of Prince George's
County, then said Board of County Commissioners of Prince
George's County is authorized 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 reim-
burse such other funds.

SEC. 3. And be it further enacted, That in order to redeem
said bonds and to pay the interest and principal thereof when