1660 LAWS OF MARYLAND. [CH. 712

bonds to be signed by the president thereof and attested by
the Treasurer of Wicomico County with the seal of the County
Commissioners attached to be known as "Public Improvement
Bonds of Wicomico County. "

SEC. 2. And be it further enacted, That the amount of said
bonds shall not in the aggregate exceed the sum of one hundred
and twelve thousand dollars ($112, 000. 00) to be issued in de-
nominations of five hundred dollars ($500. 00) each on the faith,
and credit of Wicomico County, bearing interest at the rate not
exceeding five per centum per annum, payable semi-annually,
to be made payable in series as follows: the redemption to com-
mence on the first day of January, 1924, commencing with number
one, redeeming six bonds in each of the years 1924, 1925, 1926,
1927, 1928 and 1929; and ten bonds in each of the years 1930,
1931, 1932, 1933, 1934, 1935, 1936, 1937 and 1938; and fourteen
bonds in each of the years 1939, 1940, 1941, 1942, 1943, 1944 and
1945, and the County Commissioners shall annually levy a tax
the year preceding at the time of the regular levy to meet and
pay the interest on said bonds when issued, and to meet and
pay said bonds as they shall become due, to be collected as other
County taxes are collected and said bonds to be exempt from
State, County and Municipal taxation.

SEC. 3. And be it further enacted, That all bonds shall be
dated the first day of July, in the year 1916, and bear interest
at a rate, not exceeding five per centum per annum, from the
date thereof, payable on the first day of January and July of
each year; and said bonds shall be due and redeemable on and
after the first day of January, 1924- as provided in Section 2
of this Act. Provided that the County Commissioners may, at
. their option, after giving one month's notice in one or more
newspapers published in Wicomico County at least six months
prior to, and notice by writing to the owners of the said bonds
as appear by the registry thereof, prior to the first day of July,
1940, of their intention so to do, redeem all of said bonds not
theretofore paid as provided in this Act.

SEC. 4. And be it further enacted, That when said bonds
are properly prepared and duly executed as described, the
County Commissioners of Wicomico County are hereby author-
ized and required to sell -said bonds to the best advantage at pub-
lic or private sale, at such time or times, and on such notice as
they may deem^best, at not less than par and accrued interest,
provided said bonds shall be sold on competitive bidding by