and to issue coupon bonds therefor in sums of five hundred dol-
lars each, to be signed by the President of said Board of Coun-
ty School Commissioners of Anne Arundel County and counter-
signed by the Treasurer of said Board, with the seal of said
Board attached, and said bonds shall bear interest at the rate
of 5 per cent, per annum, payable semi-annually on the first
day of June and December in each year, until the said bonds
shall be paid; and said bonds shall be forever exempt from all
taxation for any purpose, and shall have printed on them a
distinct reference to this Act as authorizing 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 payment.

SEC. 5. And be it enacted, That the Board of County
School Commissioners of Anne Arundel County is hereby au-
thorized and directed to retain, each and every year from the
sums of money appropriated to them by the County Commis-
sioners 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 sixteen, and shall be re-
deemable 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, 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.

SEC. 7. And be it enacted, That for the purpose of redeem-
ing the said bonds at their maturity, and for securing the
prompt payment of the interest thereon, said Board of County
School Commissioners and their treasurer shall, for the year
nineteen hundred and sixteen, and annually thereafter, reserve
a sufficient sum to pay the semi-annual interest on said bonds,