EMERSON C. HARRINGTON, GOVERNOR. 87

thorizing the issue thereof. And said bonds shall be issued
on the full credit and faith of Anne Arundel County, and the
entire taxable basis of the County is pledged for their pay-
ment. And the endorsement of the County Commissioners of
Anne Arundel County upon said bonds shall be in the follow-
ing form: "The County Commissioners of Anne Arundel Coun-
ty in pursuance of the authority conferred upon them by Chap-
ter of the Acts of 1918 of the General Assembly of the
State of Maryland, hereby unconditionally guarantee to the
holder of the within bond that said bond and the interest cou-
pons thereto attached shall be paid in full when due and here-
by waive presentment, demand of payment, protest and notice
of non-payment; " and said endorsement shall be signed by the
President of the said Board of County Commissioners of Anne
Arundel County and have the corporate seal of said Board
affixed thereto, attested by the clerk thereof.

SEC. 5. And be it enacted, That the Board of County School
Commissioners of Anne Arundel County is hereby authorized
and directed to retain each and every year from the sums of
money appropriated to them by the County Commissioners for
the support of the public schools of Anne Arundel County, a
sufficient amount of money to meet the interest, 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. 6. 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 first day
of June, nineteen hundred and eighteen, and shall be pay-
able as follows: The first series, five years after date; the
second series, ten years after date; the third series, fifteen
years after date; the fourth series, twenty years after date; the
fifth series, twenty-five years after date, and said bonds shall
be advertised at least twenty days in some newspaper of Anne
Arundel County, and sold to the highest bidder or bidders, for
cash, -by the Board of County School Commissioners of Anne
Arundel County, provided said bonds shall not be sold for less
than their face value. And said Board of County School Com-
missioners shall have the right to sell part of said bonds to
one bidder and part to another bidder, and in case all or any
part of said bonds cannot be sold for par to re-advertise the
whole, or any part of said bonds which cannot be sold for par.