880 LAWS OF MARYLAND. [CH. 454

CHAPTER 454.

AN ACT to authorize and empower the County Commissioners
of Caroline County to borrow money on the credit of said
County for the purpose of paying off the floating indebted-
ness of said County, and to issue bonds for the payment
thereof, and to levy taxes on the assessable property of said
County to redeem said bonds and to pay the interest thereon.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Caroline County
be and are hereby authorized and empowered to borrow on the
credit of Caroline County a sum of money not exceeding sixty
thousand dollars, and to issue coupon bonds therefor, said bonds
to be signed by the President of the Board of County Commis-
sioners of Caroline County, the Clerk to said Commissioners,
attested by the corporate seal of said County, and countersigned
by the County Treasurer; said bonds to bear interest at a rate
not exceeding four percentum per annum, payable semi-annu-
ally, and each of said bonds to be in sums of one thousand dol-
lars and numbered consecutively from one to sixty inclusive,
and dated the first day of June, nineteen hundred and sixteen,
and numbers one to five inclusive of said bonds shall be due and
payable on the first day of December, nineteen hundred and
sixteen and, thereafter, five of said bonds shall mature and be
payable each consecutive year from the maturity of Bonds
numbers one to five inclusive, in the order of the consecutive
numbers of said bonds, and all bonds issued under the authority
of this Act shall be exempt from County, State, and municipal
taxation.

SEC. 2. And be it further enacted, That no bonds shall be
issued under the authority conferred by this Act until at least
two weeks' notice, stating the time and place at which bids for
said bonds will be received and opened, shall have been given,
in one newspaper printed and published in Caroline County
and one newspaper printed and published in Baltimore City,
and such other notice as the County Commissioners may deem
expedient; and said bonds so advertised, shall be sold to the
highest bidder for cash; provided that the County Commis-
sioners may reject any or all bids for said bonds and re-adver-
tise and sell the same as hereinbefore specified and so on until
a sale satisfactory to said Commissioners is made; but no bonds
shall be sold at any time for less than Nine Hundred and Fifty
($950. 00) Dollars, with accrued interest.