758 LAWS OF MARYLAND. [ CH. 434

an ordinary promissory note used in commercial transactions
and, except as herein provided, shall comply in all respects
with the provisions of Article 13 of the Code of Public Gen-
eral Laws of Maryland (1939 Edition). Said notes may be
issued in registered or bearer form and shall provide for the
payment of interest thereon in monthly, quarterly or semi-an-
nual installments, but no interest coupons need be attached
to said notes to evidence said interest obligation. The
Board of Education of Anne Arundel County shall be the
principal obligor on said notes and each such note shall be
executed on behalf of the Board by the President thereof
and the corporate seal of said Board shall be affixed to each
such note, attested by the signature of the Superintendent
of Schools as Secretary of the Board. In addition to the
promise to pay contained therein, each such note shall con-
tain a specific reference to this Act as authority for the issu-
ance of such note and there shall a-lso be printed or typed
on the face thereof the following clause:

"It ft hereby certified and recited that each and every act,
condition and thing required to exist, to be done, to have
happened and to be performed precedent to and in the issu-
ance of this Note, does exist, has been done, has happened
and has been performed in full and strict compliance with
the Constitution and laws of the State of Maryland and the
Eesolutions of the Board of Education of Anne Arundel
County, and that this Note, together with all other outstand-
ing notes of said Board issued pursuant to the authority
of Chapter of the Acts of the General Assembly of Mary-
land, passed at its January Session in the year 1947, is
within every debt and other limit prescribed by the Constitu-
tion and laws of said State."

In addition to said recital, there shall be endorsed on each
such note the unconditional guaranty of the County Commis-
sioners of Anne Arundel County, which such guaranty shall
be in the following form:

"The payment of interest on this Note when due and of
the principal thereof at maturity is hereby unconditionally
guaranteed by the County Commissioners of Anne Arundel
County, a body politic and corporate of the State of Maryland.

COUNTY COMMISSIONERS OF ANN® ARUNDEL COUNTY

Attest:

By.................................

President

Clerk

Corporate Seal"