680 LAWS OF MARYLAND.

on the part of Talbot county to pay any expenses to be incurred
hereby, save and except by agreement between the County
Commissioners of said Caroline and Talbot counties, as pro-
vided for in chapter 183, of the Acts of 1900, of the General
Assembly. The said County Commissioners of Caroline county
are hereby authorized and directed to borrow on the credit of
said county such sum or sums of money as may be necessary to
pay one-half of cost of same, not exceeding eight thousand
dollars, and to issue coupon bonds therefor in sums of not less
than five hundred dollars nor more than one thousand, to be
signed by the president of the Board of said Commissioners,
to be atested by the clerk of said commissioners, and to have the
corporate seal of said commissioners affixed thereto, bearing
interest not exceeding four and one-half per centum per annum,
payable semi-annually on the first day of January and the first
day of July in each and every year thereafter until the same
are paid.

SEC. 2. And be it enacted., That in negotiating the sale of
said bonds the said County Commissioners shall first give not
less than three weeks' notice by advertisement in one or more
newspapers printed and published in Caroline county, inviting
proposals in writing for the purchase of said bonds, to be
opened on a day certain, and the same shall be disposed of to
the highest bidder for cash at not less than the par value and
accrued interest thereof; but the said County Commissioners
shall have the power to offer any or all of said bonds at one
time, or to offer them or any of them at such time as they shall
deem necessary for the purpose herein provided, and shall have
power to refuse and reject any and all bids, and to re-offer the
same bonds, or any part thereof, as above provided, or other-
wise, in their discretion, if said bids received under the first
offer are below the par value with accrued interest thereon;
provided, that said bonds shall not be disposed of by the said
commissioners at less than their par value, together with the
accrued interest thereon.

SEC. 3. And be it enacted, That the said bonds shall be issued
in series from one to eight, inclusive, according to the aggre-
gate amount issued, each series consisting of one thousand
dollars of said amount, and shall be redeemable and payable, as
follows: One thousand dollars thereof on the first day of July,
1909, and thereafter annually on the first day of July in each
and every year one thousand dollars thereof until the whole
amount so issued shall have been paid.

SEC. 4. And be it enacted, That for the purpose of redeem-
ing said bonds at their maturity and for securing the prompt