PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 1707

be dated on the first day of July, 1914, and shall bear interest
from the date theerof at a rate not exceeding four and one-half
per cent. (4 1/2%) per annum, payable semi-annually as afore-
said, and shall be exempt from State, County and municipal tax-
ation. The said bonds shall be numbered from one to two thous-
and, both inclusive, and shall be so issued that one hundred of
said bonds shall mature in every year from the date of issuing the
same until the whole shall be paid off and redeemed; that is to
say, that bonds numbered one to one hundred both inclusive shall
be due and payable on the first day of July, 1915; bonds num-
bered from one hundred and one to two hundred, both inclusive,
shall be payable on the first day of July, 1916; and so on ac-
cording to their consecutive numbers; one hundred of said bonds
shall be due and payable on the first day of July in every year
succeeding their issuance until the whole shall have been paid
and redeemed, and whenever any bond shall be paid or redeemed
it or they shall be cancelled and destroyed by the County Com-
missioners of Baltimore County and a note thereof made in the
minutes of their proceedings.

SEC. 7. Be it further enacted, That when the said bonds shall
be duly prepared and duly executed as herein prescribed, the
County Commissioners of Baltimore County and their succes-
sors are authorized and directed to advertise in not less than
four successive weeks in three newspapers published in the City
of Baltimore and two newspapers published in the County of
Baltimore, together with such other advertisement as they deem
proper, inviting sealed proposals for the purchase of said bonds
or any part thereof, reserving the right to the said County Com-
missioners of Baltimore County to accept or reject any and all
bids, and for this purpose the said County Commissioners of Bal-
timore County are hereby given full authority to ask for bids,
market and sell such bonds and grant to the purchaser or pur-
chasers thereof an unconditional title pledging as payment there-
for and for the payment of the interest to accrue thereon the
assessable property in Baltimore County. The said County
Commissioners may offer all of said bonds for sale at the same
time or may offer them at different intervals and in such install-
ments or amounts as they deem advantageous in carrying out the
work for which they are issued. The money arising from the
sale of said bonds shall be payable upon the delivery thereof to
the Treasurer of Baltimore County, who shall keep the same as a
separate fund in some depository to be selected by the County

Commissioners, and to be paid out on their order, and said fund