974 LAWS or MARYLAND. [CH. 437

said county a sum not to exceed one hundred thousand
dollars ($100,000) and to issue and sell coupon bonds
therefor, and to use the proceeds thereof for the purpose
of constructing and permanently improving the public
roads of said county; providing for the payment of said
loan, principal and interest, by the levy of taxes; providing
generally for the time, terms and manner of said bond
issue; and providing that before any of said bonds be is-
sued the question of the issuance thereof shall be approved
by a majority vote of the registered voters of Itent County
voting at the election to be held is said county on the
Tuesday after the first Monday in November, 1922.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Kent County be and
they 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 one hundred thous-
and ($100,000) dollars in denominations of one hundred ($100)
dollars and multiples thereof, to bear interest at such rate as
the said County Commissioners may determine, not exceeding
five per centum per annum, said interest to be payable semi-
annually on the first days of January and July 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 Presi-
dent of the said County Commissioners, the said signature to s-aid
coupons either to be printed or written thereon, the said bonds
also to be signed by the said President and by the Clerk to the
County Commissioners 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.

SECTION 2. And be it further enacted, That twenty-five
thousand ($25,000) dollars of said bonds shall be dated the
first of July 1923, twenty-five thousand ($25,000) dollars the
first day of July 1924, twenty-five thousand ($25,000) dollars
shall be dated the first day of July 1925, twenty-five thousand
($25,000) dollars of said bonds shall be dated the first day of
July 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 consecutively beginning witn
number one. And said bonds shall be so issued that one thous-