290 LAWS OF. MARYLAND. [CH. 166

directing the issue of the same and shall be designated "Alle-
gany County School Bond Issue of 1916"; and the said bonds
when issued shall be exempt from municipal and county tax-
ation 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 Fifteen
Thousand Dollars ($15, 000) shall mature and become payable
on the first day of July, 1926, and a like series to the amount
of Fifteen Thousand Dollars ($15, 000) on the first day of
July 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 July, 1930;
and said bonds shall be sold after due advertisement by the
County Commissioners to the highest bidder or bidders; pro-
vided, however, 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 suffi-
cient 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 payment of the interest on said bonds and to their
redemption as and when they mature.

SEC. 4. And be it enacted, That the County Commission-
ers shall, when notified by the Board of County School Com-
missioners of Allegany County, that they desire to avail them-
selves of the provisions of this -act and of the approximate
amount of money that they will require for the purpose afore-
said, advertise and sell said bonds as above provided or so
many thereof as shall be necessary to produce the sum desig-
nated by the Board of County School Commissioners, but in
no event shall the credit of the County be pledged to an amount
in excess of Seventy-five Thousand Dollars ($75, 000); and
the County Commissioners shall pay over the entire proceeds
of the sale of said bonds to said Board of County School Com-
missioners, who shall account for the same and the expenditure
thereof in the same manner as they account for other moneys
passing through their hands.

SEC. 5. And be it further enacted, That this Act shall take
effect the first day of June, Nineteen Hundred and Sixteen.

Approved April 4th, 1916.