EMERSON C. HARRINGTON, GOVERNOR. 581

tersigned by the Treasurer thereof, with the seal of said Board
affixed, and to be registered by the said Treasurer in a separate
book kept for that purpose. Said bonds to bear interest at the
rate of five per centum per annum, payable semi-annually, on
the first days of July and January in each year, until the said
bonds are fully paid and cancelled, and these bonds shall be
forever exempt from taxation for any purpose, and shall have
printed on them a distinct reference to this Act as authorizing
the issue thereof. The cost of engraving and printing said
bonds shall be paid from the money realized from their sale.

SEC. 2. And be it further enacted, That the bonds author-
ized in this Act shall be dated from the first day of July in
the year 1916, and shall mature and be redeemable on the first
day of July, in the year 1941, and said bonds shall be adver-
tised and sold by the Board of County School Commissioners
to the highest bidder for cash, and they shall not be sold for
less than their face value. The money arising from such sale
shall be paid to the Treasurer of said Board, and be by him
disbursed upon the order of the said Board of School Commis-
sioners, and no part of said money shall be diverted from the
purposes specifically mentioned in this Act. It shall be the
duty of the said Treasurer to keep a registry of said bonds in
a book provided for that purpose, and in which shall be entered
the name or names of the purchaser or purchasers, the amounts
held by him, her or them, and all transfers and assignments
of said bonds, whenever the bonds or any. of them are trans-
ferred.

SEC. 3. And be it further enacted, That for the purpose
of redeeming said bonds at maturity, and for securing the
prompt payment of semi-annual interest thereon, the Board of
the County School Commissioners of Somerset County shall in
the year 1916 and annually thereafter, reserve from the sums
of money appropriated to them by the County Commissioners
of said County for the support of the public schools therein, a
sufficient amount to pay the semi-annual interest on said bonds
when and as the same may be due and payable, and in addition
thereto one hundred and forty dollars to meet the principal of
the bonded debt hereby created, which said sum of one hun-
dred and forty dollars shall be annually reserved and deposited
at interest, as hereinafter provided, until such time as the ac-
cumulated yearly deposits, together with the increment of in-
terest thereon shall be sufficient to pay off said bonds at their
maturity. The Board of County School Commissioners may,