EMERSON C. HARRINGTON, GOVERNOR. 851

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 author-
izing 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. 2. 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 and
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. 3. And be it enacted, That said bonds shall be issued
in four series, each consisting of one-fourth 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 redeem-
able 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;
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 Commis-
sioners of Anne Arundel County, provided said bonds shall
not be sold for less than their face value.

SEC. 4. 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,
and in addition thereto the sum of two hundred and thirty-five
($235. 00) Dollars, to meet the maturing principal of said
debt

SEC. 5. And be it enacted, That the two hundred and
thirty-five ($235. 00). Dollars annually reserved by the said
Board of County School Commissioners and their treasurer, as
provided by the preceding Section to meet the said payments
of said bonds issued by the Board of County School Commis-
sioners, as provided for in this Act, shall be kept by them