558 LAWS OF MARYLAND. [CH. 243

terms and manner of said bond issue; and providing that
before any of said bonds be issued the question of the issu-
ance thereof shall be approved by a majority vote of the
registered voters of Baltimore County voting at the election
to be held in said county on the Tuesday after the first Mon-
day in November, 1922.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Baltimore County are
hereby authorized and empowered to borrow money on the
faith and credit of said county and to issue and sell coupon
bonds therefor to an amount not to exceed three million ($3, -
000, 000) dollars in denominations of one hundred ($100)
dollars and multiples thereof, to bear interest at such rate as
the County Commissioners of Baltimore County may deter-
mine, not exceeding five percentum per annum, said interest
to be payable semi-annually on the first days of February and
August in each and every year, coupons to be attached to said
bonds for each of said semi-annual interest payments to be
signed by the President of said County Commissioners, the
said signature to said coupons either to be printed or written
thereon, the said bonds also to be signed by the said President
and by the Treasurer of said county and to have the corporate
seal of said county affixed thereto and said loan and every part
thereof and the interest payable thereon shall be and remain
exempt from State, county and municipal taxes.

SEC. 2. And. be it further enacted, That seven hundred
and fifty thousand ($750, 000) dollars of said bonds shall be
dated the first of February, 1923, seven hundred and fifty
thousand ($750, 000) dollars the first day of February, 1924,
seven hundred and fifty thousand ($750, 000) dollars shall be
dated the first day of February, 1925, seven hundred and fifty
thousand ($750, 000) dollars of said bonds shall be dated the
first day of February, 1926, and all of said bonds shall be sold
in series according to their maturity and each series lettered
alphabetically with a different letter or letters, beginning with
the letter A, and the bonds of each series numbered consecu-
tively beginning with number one. And said bonds shall be
so issued that the principal of said loan shall accrue and be
payable as follows:

$25, 000, 00 on February 1, 1924.

30, 000. 00 on February 1, 1925.

35, 000. 00 on February 1, 1926-