ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

SEC. 2. And be it enacted, That the said notes
or bonds shall be sold by the county commis-

441

sioners of Talbot county aforesaid to the highest
bidder, for cash, at not less than their par value ;
and the said notes or bonds shall be exempt from
state, county and municipal taxation ; and when
said notes or bonds are sold the county commis-
sioners shall register them by numbers, to whom
sold, when due and payable, the rates of interest,
&c.; and in case of the transfer of any of said
notes or bonds by the holder or holders thereof,
notice of such transfer shall be given to the said
county commissioners, who shall cause the same
to be noted and set forth on the registry afore-
said ; and it shall not be lawful for the said
county commissioners to pay any part of the in-
terest or principal sum of any said notes or bonds
to any new holder until after notice of transfer
as aforesaid, and the same is noted and set forth
in the registry aforesaid.
SEC. 3. And be it enacted, That said notes or
bonds shall be issued to mature as follows : Num-

Exempt from
taxation.

bers one and two, due and payable on the first
day of October, eighteen hundred and eighty-
nine ; numbers three and four, due and payable
on the first day of October, eighteen hundred
and ninety ; numbers five and six, due and pay-
able on the first day of October, eighteen hun-
dred and ninety-one ; numbers seven and eight,
due and payable on the first day of October,
eighteen hundred and ninety-two ; numbers nine
and ten, due and payable on the first day of
October, eighteen hundred and ninety-three, all

Due and pay-
able.

bearing interest at the rate of six. per cent, per
annum, payable semi-annually on the first day
of April and the first day of October, respectively,
at the office, of the county commissioners in Eas-
ton, Talbot county, Maryland, and the next ten
numbers to be issued in like manner, so as to re-
quire the payment in any one year of only one
thousand dollars of the principal sum thereof,
and bearing interest at the rate of five per cent,
per annum, payable semi-annually on the first
day of April and the first day of October, re-
spectively, at the office of the county commis-
sioners aforesaid, and the next ten numbers to
be issued in like manner, so as to require the

To bear in-
terest..