456 LAWS OF MARYLAND. [CH. 190

ceeding five per cent. (5 %) per annum; said bonds are to be
dated January the 1st of the year in which issued and shall
bear interest from the date thereof, payable semi-annually,
said interest to be paid on the first day of July and the first
day of January in every year until the maturity of each of
said bonds; said bonds are to be numbered consecutively from
one to three hundred, inclusive, and to have coupons attached
thereto covering each of every interest payment; said
bonds and coupons to be signed by the president of the said
County Commissioners for Dorchester County and counter-
signed by the clerk of said County Commissioners, the signa-
ture to be either printed or written thereon and the bonds to
have the corporate seal of the County Commissioners for Dor-
chester County affixed thereto.

The said County Commissioners, after the issuance of
said bonds, shall levy annually upon the assessable property of
said county a sum sufficient to meet the interest and principal
on said bonds as same become due. Said bonds shall be re-
deemable as follows: fifteen of said bonds beginning with
number one shall be due and redeemable on the first day of
January following the date of issue; fifteen more of said
bonds in order according to number shall be due and redeemable
on the succeeding first day of January; and fifteen more of
said bonds each year thereafter until all of said bonds shall be
due and redeemed.

SEC. 2. And be it further enacted. That at such time or
times as said bonds may be issued and sold, the said the County
Commissioners shall advertise said sale in two newspapers pub-
lished in Dorchester County aforesaid, and also in a newspaper
published in Baltimore City, if they deem such advertisement
advisable, giving reasonable notice of the time of such sale and
inviting sealed proposals for the purchase of said bonds so to be
issued, with the privilege to the said the County Commissioners
of rejecting any and all bids; that the said bonds shall be ex-
empt from State, county and municipal taxes; and that the said
the County Commissioners shall keep a record of said bonds in
a registry of bonds, giving the number and date of such bonds
and the name or names of the purchasers and the amounts
realized. The said the County Commissioners shall advertise
said bonds such reasonable length of time as they deem ade-
quate notice to the public and shall offer said bonds as the
Board of Education for Dorchester County shall prescribe
either all at the same time, or at different intervals in such