ALBERT C. RITCHIE, GOVERNOR 1193

SEC. 2. And be it further enacted, That the amount of
said bonds shall not exceed in the aggregate the sum of one
hundred thousand ($100,000) dollars, to be issued in denom-
inations of one hundred dollars or any multiple thereof, on
the faith and credit of Charles County, Maryland; said bonds
to be dated January 1st, 1921, to be exempt from State, county
and municipal taxation, to bear interest at a rate not exceed-
ing six per centum per annum, payable on the first day of
July and January of each year and to he so issued that five
thousand ($5,000) dollars of said bonds shall mature and
become payable on January 1, 1921, and five thousand ($5,000)
dollars on January 1st each year thereafter until the entire
issue of bonds shall have matured and been paid ; and said
bonds shall be sold, after due advertisement, to the highest
bidder or bidders and said Commissioners shall have the right
to reject any or all bids.

SEC. 3. And be it further enacted, That the County Com-
missioners of Charles County be and they are hereby author-
ized and directed to levy annually on the taxable property
of said County, a sum of money sufficient to pay the interest
on said bonds and to redeem said bonds as they mature and
become payable, and said taxes shall be collected in like man-
ner as other taxes in said County, and when collected shall
be applied to the payment of the interest on said bonds and
to the redemption of said bonds as they mature and become
payable.

SEC. 4. And be it further enacted, That when said bonds
are properly prepared and duly executed as described, the
County Commissioners of Charles County are hereby author-
ized and required to sell said bonds to the best possible advan-
tage at public 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 that said bonds shall be sold on
competitive bidding by sealed offers, with the privilege of
rejecting any and all bids, and the money arising from the
sale of said bonds shall be kept by the County Treasurer in
a separate fund known as "Public School Improvement Bonds
of Charles County," to be used for the purpose of paying
for sites for new school houses, building new school houses,
and purchasing equipment for same; improving and repair-
ing old school houses or the consolidation and equipping the