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CHAP. 426
Bonds to be
Issued and
sold.
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SEC. 2. And be it further enacted, That in negotiating the
sale of said bonds the said County Commissioners shall first
give not less than three weeks' notice by advertisement in
one or more newspapers printed and published in Caroline
county, also by advertisement once a week for three succes-
sive weeks in one or more newspapers printed and published
in Baltimore city, inviting proposals in writing for the pur-
chase of said bonds, to be opened on a day certain, and the
same shall be disposed of to the highest bidder for cash at
not less than the par value and accrued interest thereof; but
the said County Commissioners shall have the power to
offer any or all of said bonds at one time, or to offer them or
any of them at such time as they shall deem necessary
for the purpose herein provided, and shall have power to
refuse and reject any and all bids, and to re-offer the same
bonds, or any part thereof, as above provided, or otherwise,
in their discretion, if said bids received under the first offer
are below the par value with accrued interest thereof; pro-
vided, that said bonds shall not be disposed of by the said
commissioners at less than their par value, together with the
accrued interest thereon.
SEC. 3. And be it further enacted, That the said bonds
shall be issued in series from one to twelve, inclusive,
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Issued in
series.
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according to the aggregate amount issued, each series con-
sisting of one thousand dollars of said amount, and shall be
redeemable and payable as follows: One thousand dollars
thereof on the first day of July in the year 1907, and there-
after annually on the first day of July in each and every year
one thousand dollars thereof until the whole amount so
issued shall have been paid.
SEC. 4, And be it further enacted, That for the purpose of
redeeming said bonds at their maturity and for securing
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Levy to be
made.
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the prompt payment of the interest thereon the said
County Commissioners are hereby empowered and directed
to annually levy on the assessable property of said county
such sum or sums of money as shall in their discre-
tion be necessary for the prompt payment of the interest
on said bonds and the principal thereof when the same
may become due; which said sum or sums thus levied
shall be strictly applied to the payment of said interest and
to the redemption of said bonds, as the same shall mature,
and to no other debts or obligations of said county; and
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