FRANK BROWN, ESQUIRE, GOVEKNOB.

723

it shall be the duty of the County Commissioners of Garrett
county, within sixty days after said election, to issue said
bonds to an amount not exceeding twelve thousand dollars, in
sums of not less than one hundred nor more than one thousand
dollars each, and shall bear interest at a rate not to exceed five
per centum per annum; and within ninety days after the said
election, if it shall be decided by the ballots cast that said
bonds shall be issued, the said County Commissioners shall
issue the bonds, which said bonds shall be signed by the presi-
dent of the board of County Commissioners, and be counter-
signed by the clerk to said board, and the said bonds shall be
made payable in the following manner, that is to say, one
thousand dollars each for each and every year, beginning with
the year nineteen hundred and five; and they shall have
coupons attached for the semi-annual interest, payable respec-
tively on the first day of February and the first day of August
in each year; the said bonds shall be dated as of the first day
of February, eighteen hundred and ninety-five, and shall be
forever exempt from all taxation for any purpose, and shall
have printed on them a district reference to the act authoriz-
ing the issue thereof.

May issue
bonds to
extent of

$12,000.

SEC. 3. And be it enacted, That said bonds shall be issued
to mature at such date as shall not require the payment thereof
of more than one thousand dollars in any one year; but none
of said bonds shall be issued to mature before the first day of
February, nineteen hundred and five.

Maturity of
bonds.

SEC. 4. And be it enacted, That, in order to pay the interest
on said bonds, the County Commissioners shall annually, begin-
ning with their levy-laying session in eighteen hundred and
ninety-five, levy on the assessable property of the county a
sufficient amount to pay said interest until the said bonds shall
respectively mature; and for the payment of the said bonds
they shall, beginning with the year nineteen hundred and four,
annually, levy on the assessable property of said county, the
sum of one thousand dollars to pay said bonds, which shall be
paid in the order of their serial number, beginning with serial
number one and in their successive order.

Tax to pay
principal
and interest.

SEC. 5. And be it enacted, That of the whole issue of said
bonds so authorized, the said County Commissioners shall,
immediately after the signing of said bonds, as hereinbefore
provided, sell at public auction to the highest bidder for cash
only twelve thousand dollars of the amount authorized to be

Bonds to be
sold.