PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 105

from the date of issue thereof at the rate of five (5%) per cent,
per annum, payable semi-annually; said bonds when issued shall
have written or printed on them a distinct reference to the
act directing the issue of the same and shall be designated
"Allegany County School Bonds;" and the said bonds when
issued shall be exempt from municipal and County taxation in
Allegany County and shall be and become a lien upon all the
assessable property in Allegany County.

SEC. 2. And be it enacted, That said bonds shall be so issued
that a series of said bonds to the amount of Five Thousand
($5,000.00) Dollars shall mature and become payable on the
first day of June, 1916, and a like series to the amount of Five
Thousand ($5,000 00) Dollars on the first day of June 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 June, 1927; and said
bonds shall be sold after due advertisement by the County
Commissioners to the highest bidder or bidders; provided, how-
ever, that none of said bonds shall be sold for less than par and
accrued interest.

SEC. 3. And be it enacted, That the County Commissioners
shall annually cause to be levied and collected from the assess-
able property in Allegany County a tax which shall be sufficient
to pay the interest on said bonds and also to redeem all of said
bonds which shall mature during that year; 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 pay-
ment of the interest on said bonds and to their redemption as

and when they mature.

SEC. 4. And be it enacted, That the County Commissioners
shall, when notified by the Board of County School Commis-
sioners of Allegany County that they desire to avail them-
selves of the provisions of this Act and of the amount of money
that they will require for the purposes aforesaid, advertise and
sell said bonds, as above provided, to an amount sufficient to
produce the sum designated by the Board of County School
Commissioners, but in no event in excess of Sixty Thousand
($60,000.00) Dollars; and shall pay over the proceeds of the
sale of said bonds to said Board of County School Commis-
sioners, who shall account for the same and the expenditure
thereof in the same manner as they account for other moneys
passing through their hands.