12 LAWS OF MARYLAND. [CH. 6

bonds therefor, to be known as "Wicomico County School
Bonds of 1937"; the proceeds thereof to be used by the Board
of Education of Wicomico County for the construction and
equipping of a public school building in that part of the
City of Salisbury known as "North Salisbury" in Wicomico
County, State of Maryland; to provide for the payment of
interest on said bonds and the payment of the principal
thereof by the levying of taxes.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That for the purpose of erecting and equipping a public
school building in that part of the City of Salisbury known as
"North Salisbury" in the vicinity of Union Avenue in Salis-
bury Election District, Wicomico County, State of Maryland,
on land recently purchased by the Board of Education for that
purpose, at a cost not to exceed One Hundred, Twenty-Five
Thousand Dollars ($125, 000. 00), the County Commissioners
of Wicomico County are hereby authorized and empowered to
borrow on the faith and credit of Wicomico County the sum
of One Hundred, Twenty-Five Thousand Dollars ($125, 000. 00)
and to issue bonds therefor.

SEC. 2. And lie it further enacted, That the said bonds shall
be issued in denominations of One Thousand Dollars
($1, 000. 00) with coupons attached thereto for the payment of
interest thereon semi-annually on the first day of January and
the first day of July in each and every year thereafter until
the maturity thereof; said bonds shall be signed by the Presi-
dent of the County Commissioners of Wicomico County and
countersigned by the County Treasurer of Wicomico County
with the seal of said County affixed thereto; the coupons
thereon shall be signed by the County Treasurer of Wicomico
County or a facsimile of his signature shall be printed, en-
graved or written thereon; said bonds shall bear interest from
the date thereof at a rate not exceeding four per centum (4%)
per annum and shall be exempt from all State, County and
Municipal taxation.

SEC. 3. And l>e it further enacted, That the said bonds
shall be issued bearing the date of the first day of the month
in which they are issued and shall be numbered consecutively,
beginning with the number 1, and shall be payable as follows:
Thirty (30) bonds in the year 1956, Thirty (30) bonds in the
year 1957, Thirty (30) bonds in the year 1958 and Thirty-five
(35) bonds in the year 1959.

SEC. 4. And be it further enacted, That the said interest
coupons and the said bonds shall be payable at the office of the
County Treasurer of Wicomico County and whenever such