ART. 10.] DORCHESTER COUNTY. 773

of the Board of County School Commissioners and counter-
signed by the secretary thereof; said bonds shall be made pay-
able to the bearer and shall be forever exempt from all county
and municipal taxation, and shall have printed on them a dis-
tinct reference to this Act as authorizing the issue thereof,
which said bonds shall be endorsed by the County Commis-
sioners of Dorchester county, and the credit of said county
shall be pledged thereby for the payment of said principal and
interest; such endorsement shall be by the president of the
Board of County Commissioners of Dorchester county, as such
signing the same, and the clerk of said County Commissioners
countersigning the same, with the corporate seal of said County
Commissioners attached thereto.

SEC. 5. And be it enacted, That the said bonds shall be issued
in three series, each consisting of one-third of the amount of the
bonds to be issued by said School Commissioners under this
Act, and shall be paid and redeemed, both principal and in-
terest, by the County Commissioners of Dorchester county
aforesaid, as follows: One thousand dollars thereof on the first
day of July, in the year 1913; one thousand dollars thereof on
the first day of July in the year 1914; and one thousand dollars
thereof on the first day of July in the year 1915; and said bonds
shall be advertised and sold to the highest bidder or bidders for
cash by the School Commissioners; provided, that none of said
bonds shall be sold at less than par.

SEC. 6. And be it enacted, That for the purpose of redeeming
said bonds at maturity, and for the purpose of securing the pay-
ment thereof, the County Commissioners of Dorchester county
shall levy, in each and every year, beginning with the year
1908, upon the taxable property of Dorchester county, such sum
as shall be required for the payment of the principal and in-
terest of said bonds, until all of the bonds are redeemed and
paid, and upon the redemption of the same at maturity, they
shall be immediately cancelled or destroyed under the direction
of the said County Commissioners and in their presence. And
when so destroyed a record of the destruction of the same shall
be made and extended upon the records of the office.

SEC. 7. And be it enacted, That the money arising from the
sale of said bonds, as provided in section 5 of this Act, shall be
paid to the School Treasurer of said county, who shall keep, in
a book for that purpose, a registry of the bonds, and the names
of the purchasers and the amounts realized, and the said funds so
realized from the sale of said bonds shall be applied to the pur-
pose set forth in this Act, or so much thereof as shall be found
to be necessary, and shall be paid by the School Treasurer upon