332

LAWS OF MARYLAND.

said County Commissioners shall also have power to sell all old
materials not needed in making such improvements, and to
place the proceeds of said sales to said court house and jail
building fund, to be used as a part of said fund.

May borrow
money.

SEC. 2. And be it enacted, That the County Commissioners
of Worcester county be and they are hereby empowered and
directed to borrow upon the faith and credit of said county,
and the levies hereinafter directed to be made, and to pledge
the said County Commissioners and their successors in office to
the payment of the same, such sum or sums of money as they
may deem necessary for the purpose of paying the costs and
expenses incurred in the building of a new court house and
jail; provided, however, that the aggregate amount of money
so borrowed shall not exceed the sum of twenty-five thousand

May Issue
bonds

dollars; and to issue coupon bonds to an amount not exceeding
twenty-five thousand dollars; each bond to be for the sum
of five hundred dollars, and each bond to be signed by the
president of the board of said County Commissioners and
countersigned and attested by the clerk and treasurer of said
board, with the corporate seal of said board affixed, and shall
be denominated "Worcester County Court House and Jail

Interest.

Bonds," said bonds to bear interest from the date of their
issue; the said interest not exceeding five per centum per
annum, which said interest shall be payable semi-annually on
the first day of January and June of each and every year
after their issue, during which said bonds may run and remain
unpaid; and the coupons for interest on said bonds shall be
receivable by the collectors of taxes for said county in pay-

When bonds
to mature.

ment of county taxes, and said bonds shall be exempt from
county and municipal taxation; the said bonds shall be issued
to mature at such dates as shall not require the payment in
any one year of more than one bond; that is to say, five hun-
dred dollars of the principal sum of the whole bonded debt
herein provided, and shall be redeemable at their maturity,
and the first bond issued, as aforesaid, shall mature on the first
day of January, eighteen hundred and ninety-five, and one
bond each year thereafter, all of which bonds shall be num-
bered according to their issue, beginning with the bond first to
mature, which shall be numbered 1; the second bond to
mature shall be numbered 2 : the third bond to mature shall
be numbered 3, and so on consecutively until the last bond is
numbered; and said County Commissioners, when said bonds
are negotiated, shall, before delivering the same to the lender
or lenders of the money aforesaid, require a certificate of de-
posit of the amount of money so loaned in the First National