HARRY W. NICE, GOVERNOR. 899

year by the Board of County Commissioners of Somerset
County, then said Board of County Commissioners of Somer-
set County is authorized and directed to pay any or all in-
terest coming due before the next levy out of any other funds
at their disposal and to levy at the next levy to reimburse such
other funds.

SEC. 2. And be it further enacted, That the said County
Commissioners of Somerset County are hereby authorized and
directed to issue the said bonds and sell the same at such time
or times, and in such amounts, as the Board of Education of
Somerset County may request. Said bonds shall be dated on
such date as the County Commissioners of Somerset County
shall determine, and shall be so issued that a series of said
bonds, to the amount of Ten Thousand ($10, 000. 00) Dollars,
shall mature and become payable three years from the date
thereof, and like series to the amount of Ten Thousand
($10, 000. 00) Dollars shall mature and become payable in each
succeeding year until the whole amount thereof shall have been
redeemed, so that the last series of said bonds shall fall due
and become payable at the end of twenty-two years from the
date of the issue thereof. Said bonds may be sold after such
advertisement, and upon such terms and conditions as the
County Commissioners of Somerset County may prescribe, to
the highest bidder or bidders therefor, reserving to said Coun-
ty Commissioners the right to reject any and all bids; or in
lieu «f the sale thereof, said County Commissioners of Somer-
set County shall have the power and are hereby authorized to
pledge the said bonds, or any of them, as collateral with the
United States of America, or any agency thereof, or with any
other person, public or private, authorized to lend money
thereon, for a loan equal to a sum of not less than the par value
of the bonds so pledged, and if so issued and pledged, the said
bonds shall be secured as to redemption at maturity, and pay-
ment of interest thereon in as full a manner as though they
they had been sold at public sale. Said bonds shall he issued
or pledged only for cash.

SEC. 3. And be it further enacted, That the County Com-
missioners of Somerset County shall annually cause to be
levied upon all the assessable property in Somerset County a
tax sufficient to pay the annual interest on such bonds as may
be outstanding and to redeem all of said bonds which shall
mature during that year, said taxes to be collected as other
taxes levied in said County are collected.

SEC. 4. And be it further enacted, That no purchaser of
any of the bonds authorized by this Act, and no holder thereof
for value and in good faith, shall be bound to see to the