380 LAWS OF MARYLAND.

County, and the credit of the county shall be pledged thereby
for the payment of the same, principal and interest; said
endorsement shall be by the president of the County Commis-
sioners of Anne Arundel County as such signing his name, and
the clerk of the County Commissioners countersigning the same,
with the corporate seal of said County Commissioners at-
tached thereto.

SEC. 6. And be it enacted, That the Board of County School
Commissioners of Anne Arundel County is hereby authorized
and directed each and every year from the sums of money ap-
propriated to them by the County Commissioners for the sup-
port of the public schools of Anne Arundel county to retain a
sufficient amount of money to meet the interest and to create a
sinking fund to pay the principal of said bonds as they mature,
until the last of said bonds issued under this Act shall have
been paid and cancelled.

SEC. 7. And be it enacted, That said bonds shall be issued in
five series, each consisting of one-fifth of the amount of bonds
to be issued under this Act, and dated from the 1st day of
July, 1908, and shall be redeemable, the first series two years
after date, the second series four years after date, and the third
series six years after date, the fourth series eight years after
date, and the fifth series ten years after date. And the said
bonds shall be advertised and sold to the highest bidder for
cash by the Board of County School Commissioners of Anne
Arundel County, provided said bonds shall be sold for not less
than their face value.

SEC. 8. And be it enacted., That for the purpose of redeeming
said bonds at maturity and for securing payment of the in-
terest thereon, said Board of County Commissioners shall for
the year 1908 and annually thereafter levy a sufficient sum to
pay the annual interest on said bonds and, in addition thereto,
shall levy annually the sum of five hundred dollars of the prin-
cipal of said debt, and the interest on said bonds shall be re-
ceived by the treasurer of Anne Arundel county for taxes upon
presentation of the coupons for the current year, and said cou-
pons taken as payment of taxes shall be accounted for to the
County Commissioners by the said treasurer as other vouchers
and payments by him, and thereupon burned and destroyed by
the County Commissioners.

SEC. 9. And be it enacted, That the said five hundred dollars
so annually levied by the Board of County Commissioners, as
provided by preceding sections to meet the said bonds issued by
the said Board of County School Commissioners, as provided
for in this Act, shall be kept by the Board of County School