1008 LAWS OF MARYLAND.

Commissioners shall annually levy a tax the year preceding
at the regular levy to meet and pay the residue of the interest
on said bonds when issued, and to meet and pay the residue
of the bonds as they shall become due and be collected as other
taxes are collected. The said bonds to be exempt from all
State, county and municipal taxation.

SEC. 3. And be it enacted, That all bonds shall be dated from
the first day of July, 1908, and bear interest not exceeding
five per cent, and interest to commence from the day of the
issue thereof and payable on the first day of July and January
of each year, the four of the several bonds commencing with
number one shall be due and redeemable on the first day of
January, 1910, and four more bonds according to numbers
upward in each succeeding year until all of said bonds are
redeemed.

SEC. 4. And be it enacted, That when the said bonds are
properly prepared and duly executed as prescribed, the said
Board of County Commissioners are hereby authorized to sell
the said bonds to the best advantage at public or private sale
at such time and upon such notice as they may deem expedient
at not less than par; provided, that the said bonds shall be sold
upon competitive bidding by sealed offers, with the privilege
of rejecting any and all bids, and that the money arising from
the sale of said bonds shall be kept as a separate fund for the
purpose of this Act, and the County Treasurer shall keep a
full registry of the said bonds with the names of the pur-
chasers and the amount realized on the sale and the date of
maturity of the several bonds, and when redeemed, the said
bonds shall at once be cancelled on the face of said bonds and
on the book of registry and not again be issued.

SEC. 5. And be it enacted, That the sum raised by the issue
and sale of the said bonds shall be exclusively appropriated
and applied to the purchase of, if necessary, and the erection
of a building in Crisfield on some lot now owned, or that may
be purchased, or condemned by the said Board of School Com-
missioners for Somerset county, to be known as the Somerset
County High School Building, and to be and for the purpose
of the public schools of the said town and county under the
control and management of the said Board of School Commis-
sioners of said county, and shall be paid by the treasurer of
Somerset county upon the requisition of the said School Com-
missioners, endorsed by the said County Commissioners of
the said county as other funds are paid out; and the said Board
of School Commissioners are hereby authorized to make requi-
sition on and the County Commissioners are directed to re-