LLOYD LOWNDES, ESQUIRE, GOVERNOR.

cost of construction of said bridges prepared and finished fit
for travel shall not exceed twenty thousand dollars.

1161

SEC. 6. And be it enacted, That for the purpose of paying
for the building of said bridges the County Commissioners of
Anne Arundel county are hereby authorized and directed to
borrow on the credit of said county an amount not exceeding
the sum of twenty thousand dollars, and to issue coupon bonds
therefor in sums of not less than one hundred dollars nor
more than one thousand dollars, each to be signed by the presi-
dent of the said Board of County Commissioners and counter-
signed by the clerk of said board, with the seal of said board
attached, and to be registered by said clerk in a separate book
kept for that purpose ; said bonds shall bear interest at the rate
of five per centum per annum, payable semi-annually on the
first day of July and January in each year and shall be for-
ever exempt from all taxation for county, municipal and school
purposes, and shall have printed on them a distinct reference
to the Act as authorizing the issue thereof.

Borrow a sum
of money.

SEC. 7. And be it enacted. That said bonds shall be issued
in four series, each consisting of one-fourth of the amount of
bonds to be issued under this Act, and dated the first day of
July, eighteen hundred and ninety-eight, and shall be redeemable
as follows : The first series, tive years after date ; the second
series, ten years after date ; the third series, fifteen years after
date ; and the fourth series, twenty years after date ; and said
bonds shall be advertised and sold to the highest bidders for
cash by the County Commissioners, provided said bonds shall
not be sold for less than their face value.
SEC. 8. And be it enacted, That for the purpose of redeem-

Issued in four
series.

ing said bonds at their maturity and for securing the prompt,
payment of the interest thereon, the County Commissioners shall
for the year eighteen hundred and ninety-eight, and annually
thereafter, levy a tax on the assessable property of paid county,
which with the tolls of said bridges after deducting the cost
of maintaining the same) sufficient to pay the annual interest
on said bonds, and in addition thereto the sum of one thousand
dollars of the principal of said debt. The interest on said
bonds shall be receivable by the treasurer of said county for
taxes upon presentation of the coupons of the current year,
and the treasurer of said county shall in addition to the reser-
vation now provided by law for the prompt payment of public
school tax, reserve out of the money collected by him for
county purposes generally a sum sufficient to pay the interest
on said bonds at the times when said interest shall fall due,

Tax to be
levied.