HARRY W. NICE, GOVERNOR. 653

than five (5) years from the first date of issue of any of said
bonds.

SEC. 3. And be it further enacted, That said bonds shall be
known as "Public School Construction Bonds of............

............. Series................ ", the calendar year in

which said bonds are issued to be inserted in the space in the
title of said bonds left blank for that purpose, and the series
lettor of each Series of such bonds, if the same are issued in
series, to be inserted in the space in the title of said bonds
left blank for that purpose, and said bonds and the interest
thereon shall be and remain exempt from State, county and
municipal taxation of every kind whatsoever in the State of
Maryland.

SEC. 4. And be it further enacted, That in the event the Board
of County Commissioners of Montgomery County shall deter-
mine to sell all or any series of said bonds at public sale
at any time within the limit of time prescribed by this Act,
then and in such event said Board of County Commissioners
of Montgomery County shall advertise at least once a week
for two successive weeks in a newspaper published in the
City of Baltimore, Maryland, and at least once a week or
two successive weeks in two newspapers published in Mont-
gomery County, Maryland, and by such other advertisement
as it shall think proper that it will be in readiness at the
time and place to be named in said advertisement within
fifteen (15) days after the final publication thereof in said
newspapers to receive sealed bids for the bonds, including the
amount thereof, described in said advertisement, under such
regulations as said Board of County Commissioners by its
order may prescribe. Said Board of County Commissioners
may, if it deems it advisable and upon such conditions as.
it may prescribe, request in said advertisement that all bid-
ders shall name the interest rate upon which their bids are
based, and said bonds may be offered for sale to the bidder
naming the lowest rate of interest in any legally acceptable
bid, said lowest rate of interest to be determined on the basis
of the lowest interest cost to the county of said bonds so
offered, accounting from their date of issue to the last date
of maturity of any of said bonds so offered. Upon the day
mentioned in said advertisement for opening the bids for said
bonds, as described therein, said Board of County Commis-
sioners shall receive all bids tendered for the purchase of
said bonds and upon opening said bids in public the bonds
so bid for shall be awarded by said Board of County Com-
missioners to the highest responsible bidder or bidders there-
for for cash if the prices bid are adequate, in the judgment
of said Board of County Commissioners, and when two or