ALBERT C. RITCHIE, GOVERNOR. 421

pay the interest on said bonds, as issued, and to create a
sinking fund, for the payment of the same.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That whenever the County Commissioners of Calvert
County shall deem it necessary to repair or build any road
or roads in said county, costing more than $5,000, they may
issue bonds for such roads, building or repairing, as herein-
after provided, but the aggregate amount of bonds, issued
under the provisions hereof, shall not exceed the sum of $150,-
000 and when bonds to the amount of $150,000 shall have been
issued hereunder, the authority given under this Act for the
issuance of bonds shall immediately cease.

SEC. 2. And be ii further enacted, That when the County
Commissioners of Calvert County shall deem it necessary to
issue bonds, they are hereby authorized to borrow on the faith
and credit of said county the amount necessary and to issue
coupon bonds therefor, in. denomination of not less than one
hundred and hot more than one thousand dollars each, to be
signed by the President of the Board of County Commission-
ers, countersigned by the Clerk of the said Board. The said
bonds shall be dated on the date of their issue, and shall be
payable, as to principal, not more than thirty years from date,
and shall bear interest at the rate of not more than 5% per
annum, payable semi-annually, in each and every year until
maturity and said bonds shall be forever exempt from all
State, county and municipal taxation and shall have printed
on them a reference to this Act, as authorizing the issue
thereof.

SEC. 3. And be it further enacted, That the County Com-
missioners of Calvert County shall advertise for sealed bids
for said bonds, by inserting a notice in at least two daily news-
papers, published in the City of Baltimore, to be selected by
them, at least once a week for two successive weeks before
the date of opening said bids and the said bonds shall be sold
to the highest responsible bidders therefor for cash, provided
said bids shall be for not less than the face value of said bonds,
and the terms of bidding and the amount of deposit required,
to be made shall be in the discretion of the County Commis-
sioners, subject to the provisions hereof.

SEC. 4. And be it further enacted, That the County Com-
missioners of Calvert County shall use the money received
from the sale of the bonds, issued hereunder, immediately