652 LAWS OF MARYLAND. [CH. 335

first day of the month in which said Series is issued, not later
than June 1, 1939. The interest payable on said bonds shall
be payable semi-annually, accounting from the date or re-
spective dates of issue of said bonds, in each and every year
until said bonds are severally paid. Said bonds when issued
shall be signed by the President of the Board of County Com-
missioners of Montgomery County and the corporate seal of
the County Commissioners of Montgomery County shall be
thereto attached, attested by the Clerk to said Board of
County Commissioners, and the interest coupons attached to
each of said bonds shall bear the fac-simile signature of the
President of the Board of County Commissioners of Mont-
gomery County printed, lithographed or engraved thereon.

SEC. 2. And be it further enacted, That the said bonds
shall be issued in denominations of One Thousand Dollars
($1, 000. 00) each, and if issued in several Series, each such
Series shall bear a different series letter, beginning with
the letter "A". Each of said bonds shall also be numbered,
beginning with the number one (1), and if said bonds are
issued in Series, then the bonds of each Series shall be num-
bered separately, the numbering of the bonds of each such
Series beginning with the number one (1). All of said bonds
shall be issued to mature in annual serial instalments over
such period of years, not exceeding thirty (30), as the Board
of County Commissioners of Montgomery County shall by
resolution or resolutions determine, and if said bonds are
issued in Series, the said Board of County Commissioners may
provide for the maturity of the bonds of one or more of said
several Series in the same year or years, or it may provide that
the bonds of each such series shall mature in different years
not exceeding the maximum above prescribed. Prior to the
issuance and sale of all of said bonds or of any Series thereof,
the: 3aid Board of County Commissioners shall, in the resolu-
tion authorizing the issuance of said bonds or any Series
thereof, provide for the maturity thereof in annual serial in-
stalments, specifying the years in which each instalment shall
mature and the amount of bonds and the numbers thereof
maturing in each instalment, so that there shall appear in
said resolution or resolutions a statement of the aggregate of
said bonds, issued thereunder, to mature and be paid in each
year until the final payment thereof or until the final payment
of the total amount of said bonds to be issued. The first serial
instalment of said bonds shall mature not later than five (5)
years after the date of issue of the first Series of said bonds,
if the same are issued in series, and the maturities of all of
said bonds shall be so arranged that they shall mature in
consecutive annual instalments beginning with a date not more