564

LAWS OF MARYLAND.

CHAP. 313

so contracted or bid for and give bond when the contract
shall have been awarded, to complete the work within the
time stated in the proposal for said work, under a penalty of
$50.00 for each day over the time contracted for; each
bidder shall name the time necessary for such completion by
calendar months and when he will be ready to turn such
bridge or bridges over to the county for public travel; and
the County Commissioners of Anne Arundel county shall
after such advertisement and acceptance of bids, award the
contract to the lowest responsible bidder therefor, consider-
ing the time required for the completion of the work and
considering the cost to the county for public travel, while
such bridges are being repaired.
SEC. V. And be it enacted, That for the purpose of paying

May borrow a
sum of
money.

off the floating debt of Anne Arundel county and for debts
hereafter to be contracted upon the credit of the county and
for the repairs, construction and reconstruction of said bridges
that the County Commissioners of Anne Arundel county are
hereby authorized and directed to borrow on the credit of
the said county an amount not exceeding the sum of two
hundred and fifty thousand dollars and to issue coupon bonds
therefor in sums of not less than $100.00 nor more than
$1,000.00, each to be signed by the president of the said board
of County Commissioners and countersigned by the clerk of
said board attested by the corporate seal of said county, the
said bonds to be separately noted and recorded in a book
kept for that purpose. Said bonds shall bear interest at the
rate of four per centum per annum, payable semi-annually,
on the first day of July and January in each year, and shall
be forever exempt from all taxation for county, municipal
and county school purposes, and shall have printed on them
a distinct reference to this Act authorizing their issue.
SEC. VI. And be it enacted, That said bonds shall be issued in

Bonds to be
Issued in ten
series.

ten series, each consisting of one-tenth of the amount of bonds
to be issued under the authority of this Act, and dated July
1, 1906, and redeemable as follows: The first series, five
years after date; the second, ten years after date; the third,
fifteen years after date; the fourth, twenty years after date ;
the fifth, twenty-five years after date; the sixth, thirty years
after date; the seventh, thirty-five years after date; the
eighth, forty years after date; the ninth, forty-five years
after date, and the tenth fifty years after date; and the same