ALBERT C. RITCHIE, GOVERNOR. 1461

county to the amount of two hundred fifty thousand dollars
($250,000.00) in all; that is to say, one hundred and twenty
thousand dollars ($10,000.00) in the year 1922 and one hun-
dred and thirty thousand dollars ($130,000.00) in the year
1923, and to issue bonds therefor, under the corporate seal of
said County Commissioners, to be signed by the President of
the Board of said County Commissioners and countersigned
by the clerk thereof, in sums of one thousand dollars
($1,000.00), bearing interest from date of issue thereof at
the rate of four and three-fourths per cent, per annum, pay-
able semi-annually, of which said bonds ten thousand dollars
($10,000.00) shajl be so drawn as to mature on the first day
of January, 1945, and fifteen thousand dollars ($15,000.00) on
the first day of January in each consecutive year thereafter,

to and including the first day of January, 1961; and said bonds
shall have written or printed on them a distinct reference to
the Act directing the issue of the same, and said bonds when
issued shall be exempt from state, county and municipal .taxa-
tion in Maryland.

SEC. 2. And be it further enacted, That the County Com-
missioners shall cause to be levied and collected from the as-
sessable property in Frederick County such taxes as shall be
sufficient to pay for the interest on the outstanding- bonds issued
in pursuance of this Act, as the same shall fall due, and also
such further and additional sums as may be required to re-
tire and redeem said bonds when and as the same shall mature,
until all of them shall have been redeemed, and said taxes shall
be collected in like manner as other taxes levied in said county
are collected, and when collected shall be applied to the pay-
ment of the interest on outstanding bonds and the redemption
of the same as they mature and become payable.

SEC. 3. And be it further enacted, That the said bonds
shall be sold, after due advertisement by the County Commis-
sioners, to the highest bidder or bidders; provided, however,
that none of said bonds shall be sold for less than par value.

SEC. 4. And be it further enacted, That the County Com-
missioners shall advertise and sell said bonds, as above pro-
vided, and shall pay over the proceeds of the sale of said bonds
to the Board of Education of Frederick County, to be by it
applied to the purposes and for the objects set forth in this
Act, and said Board of Education shall account for the same
and the expenditure thereof in the same manner as it accounts
for other moneys passing through its hands.