EMERSON C. HARRINGTON, GOVERNOR. 817

Board of County Commissioners of Carroll County, said bonds
to be dated April 1st, 1919, and to bear interest from date,
payable semi-annually, at a rate not exceeding five per cent.
(5%) per annum, to be determined by said Board of County
Commissioners; said bonds when issued shall have written or
engraved on them a distinct reference to the Act directing the
' issue of the same and shall be designated "Carroll County
School Bond Issue of 1919"; and the said bonds when issued
shall be exempt from state, municipal and county taxation.

SEC. 2. And be it enacted, That said bonds shall be so is-
sued that a series of said bonds to the amount of Ten Thousand
Dollars ($10,000) shall mature and become payable on the
first day of April, 1920, and a like series to the amount of Ten
Thousand Dollars ($10,000) on the first day of April in each
and every year thereafter until all of said bonds have been
redeemed, so that the last series of said bonds shall fall due
and become payable on the first day of December, 1929; and
said bonds shall be sold after due advertisement by the Board
of County Commissioners of Carroll County to the highest
bidder or bidders; provided, however, that none of said bonds
shall be sold for less than par and accrued interest.

SEC. 3. And be it enacted, That the Board of County Com-
missioners of Carroll County shall annually cause to be levied
and collected from the assessable property in Carroll County,
a tax which shall be sufficient to pay the interest on said bonds
and also to redeem all of said bonds when and as they mature;
and said tax shall be collected in like manner as other taxes
levied in said County are collected, and when collected shall be
applied to the payment of the interest on said bonds and to
their redemption as and when they mature.

SEC. 4. And be it enacted, That the Board of County Com-
missioners of Carroll County shall, when notified by the Board
of Education of Carroll County, that they desire to avail them-
selves of the provisions of this Act and of the approximate
.amount of money that they will require for the purpose afore-
said, advertise and sell said bonds as above provided, or so
many thereof as shall be necessary to produce the sum desig-
nated by the Board of Education, but in no event shall the
credit of the County be pledged to an amount in excess of One
Hundred Thousand Dollars ($100,000) ; and the Board of
County Commissioners of Carroll County shall pay over the
entire proceeds of the sale of said bonds to said Board of Edu-