314

LAWS OF MARYLAND.

bonds, with interest coupons attached or other-

wise, in sums of fifty dollars or any multiple

thereof, to be signed by the president of the said

county commissioners and countersigned by their

clerk, and impress thereon the seal of their office,

to be dated on the day of then issue, and bearing

interest, payable semi-annually on the first day of

April and October in each and every year; the

When payable

principal of said bonds to be payable within ten

years from the date thereof, and redeemable and

payable for the par value at anytime after the

expiration of two years from the date thereof, if

the said county commissioners shall so order.

SEC. 9. And be it farther enacted, That in nego-

tiating the sale of said bonds, the said county

commissioners shall first give not less than ten

Give notice
by advertise-

days notice, by advertisement, inviting proposals

ment.

in writing for the purchase of said bonds, to be

opened on a day certain; and the same shall be

disposed of to the highest bidder for cash, not

less than the par value thereof; but the said

county commissioners shall have the power to

Power to re-

refuse and reject any and all bids, and to re-offer

ject.

the same bonds, or any part thereof, cither as

above provided or otherwise provided; the said

bonds shall not be disposed of for less than their

par value.

SEC. 10. And be it farther enacted, That the bonds

Exempt from
taxation.

hereby authorized shall be exempt from State,

county, municipal and all other taxation.

SEC. 11. And be it farther enacted, That the said

county commissioners shall in each and every year

lay upon the assessable property in Caroline county

such sum or sums of money as may be necessary

Pay interest.

to pay the interest as it may fall due on all the

said bonds by them issued and outstanding under

the provisions of this act, and also such further

and additional sum of money as may be required

to pay and redeem at least ten per centum on the

aggregate par value of all the bonds so issued,

whether redeemed or not; which said sums thus

levied shall be strictly applied to the payment of

said interest and to the redemption of said bonds,

and to no other debts of the county; and the

original bonds last issued (the numbers and dates