1110 LAWS OF MARYLAND.

1914, and to issue bonds therefor under the corporate seal of
said County Commissioners, to be signed by the President of
the Board of County Commissioners and countersigned by the
Clerk thereof in sums not less than One Hundred Dollars
($100.00) and not more than One Thousand Dollars ($1,000.00),
bearing interest from date of issue thereof at the, rate of 4 1/2%
per annum; and said bonds shall have written or printed on
them a distinct reference to the Act directing the issue of the
same and said bonds when issued shall be exempt from muni-
cipal and County taxation in Frederick County.

SEC. 2. And be it enacted, That the County Commissioners
shall cause to be levied and collected from the assessable prop-
erty in Frederick County a tax annually which shall be suffi-
cient to pay the interest on said bonds and provide a sinking
fund for their redemption at or before maturity; 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 a sinking fund
to redeem said bonds at or before their maturity.

SEC. 3. And be it enacted, That said bonds shall be made
payable at the expiration of thirty years from the date of issue
and shall be redeemable at any time after the expiration of
fifteen years from the date of issue and they shall be sold, after
due advertisement, by the County Commissioners to the highest
bidder or bidders; provided, however, that none of said bonds
shall be sold for less than par value.

SEC. 4. And be it enacted, That the County Commissioners
shall when notified by the Board of County School Commis-
sioners of said County that they desire to avail themselves of
the provisions of this Act and of the amount of money 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 said sum of $36,000.00; and shall
pay over the proceeds of the sale of said bonds as received to
said Board of County School Commissioners who shall account
for the same and the expenditure thereof in the same manner
as they account for other monies passing through their hands.

SEC. 5. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 10th, 1914.