JOHN WALTER SMITH, ESQ., GOVERNOR.

7

county are hereby authorized and directed to issue coupon
bonds of said county to the amount of twenty-two thousand
dollars ($22,000) in sums as follows :
Ten two hundred dollar bonds, ten five hundred dollar
bonds, and fifteen one thousand dollar bonds, to be signed by
the president, and countersigned by the clerk of their board,

CHAP. 4.

Bonds to be
issued.

with the seal of said board thereto affixed, bearing interest at
the rate of four (4) per cent, per annum, payable semi-
annually on the first days of March and September, in each
and every year said bonds remain unpaid, and which bonds
shall be payable as follows :
The ten two hundred dollar bonds, and the ten tive hundred
dollar bonds, in fifteen years from the date of their issue; the

Rate of
interest.

seven one thousand dollar bonds in twenty years from the
date of their issue, and the eight one thousand dollar bonds
in twenty-five years from the date of their issue ; said bonds
shall be exempt from county and municipal taxation, and
shall be receivable by the county treasurer in payment of
county taxes.
SEC. 2. And be it enacted, That the said County Commis-
sioners are authorized and required to sell said bonds at public
auction to the highest bidder for cash after giving not less
than twenty days' notice of such sale by advertisement

Exempt from
taxes.

inserted in one or more newspapers published in the city of
Baltimore and Washington, also in the St. Mary's Beacons
and St. Mary's Enterprise, and such other notice as they may
deem necessary ; provided, that said bonds shall not be sold
for less than their par value, and that any premium that may
be derived from their sale shall be applied to the payment of
the interest first accruing thereon.
SEC. 3. And be it enacted, That the money arising from
the sale of said bonds excepting the premium as aforesaid,
shall be applied as far as may be necessary, to the payment of
the indebtedness incurred by said commissioners in the erec-

Bonds to be
old at public
auction.

tion and furnishing of the said Court House in said county ;

and the balance, after paying the expenses incident to the
issue and sale of said bonds, shall be applied to other improve-
ments in connection with said court house at court house
grounds.
SEC. 4. And be it enacted, That the said County Commis-
sioners shall levy annually upon the assessable property of

How applied.

said county such sum of money as may be required to pay the
interest on said bonds as it may become due, and also the
principal of said bonds ; they shall in addition to the gum
required for the payment of the interest, annually levy a sum
of money, which being invested or deposited as hereinafter

Sum of
money to be
levied
annually.