ALBERT C. RITCHIE, GOVERNOR. 1147

of County Commissioners of Caroline County, the clerk to said
Commissioners, attested by the corporate seal of said county,
and countersigned by the County Treasurer; said bonds to
bear interest at the rate not exceeding five per centum per an-
num, payable semi-annually, and each of said bonds to be in
the sum of one thousand dollars ($1, 000), and numbered con-
secutively from one to sixty inclusive, and dated the first day
of July, 1924, the numbers one to five inclusive of said bonds
shall be due and payable on the first day of January, 1929,
and thereafter five of said bonds shall mature and be payable
each consecutive year from the maturity of bonds numbers one
to five inclusive in the order of the consecutive numbers of said
bonds, and all bonds issued under the authority of this Act
shall be exempt from County, State and Municipal taxation.

SEC. 2. And be it further enacted, That no bonds shall be
issued under the authority conferred by this Act until at least
two weeks' notice, stating the time and place, at which the bids
for said bonds will be received and opened, shall have been
given in two newspapers published in Caroline County, and
one newspaper published in Baltimore City, and such other
notice as the County Commissioners shall deem expedient; and
said bonds so advertised, shall be sold to the highest bidder for
cash; provided the County Commissioners may reject any or
all bids for said bonds and readvertise and sell the same as
hereinbefore specified and so on until a sale satisfactory to said
Commissioners is made; but no bonds shall be sold at any time
for less than nine hundred and fifty dollars ($950. 00) with
accrued interest.

SEC. 3. And be it further enacted, That the said County
Commissioners are hereby authorized and empowered to apply
the net proceeds of the sale of said bonds, or so much thereof
as may be necessary to the repayment to the State Roads Com-
mission the amounts of money advanced to Caroline County
by the State Roads Commission and now remaining unpaid,
and the surplus, if any there be, shall be deposited with the
General Fund of said county.

SEC. 4. And be it further enacted, That the bonds issued
under the authority of this Act shall be designated as "County
Funding Bonds" and the money arising from the sale thereof
shall be paid to the joint order of the President of the Board
of County Commissioners for Caroline County and the Coun-
ty Treasurer thereof, and shall be deposited by the County