ALBERT C. RITCHIE, GOVERNOR. 27

County be, and they are hereby, authorized, empowered and di-
rected to issue serial coupon bonds on the faith and credit of
said County, to the amount of One Hundred and Eighty Thou-
sand Dollars ($180, 000) par value, said bonds to be issued in
denominations of One Hundred Dollars ($100) or any multiple
thereof, to bear interest at a rate not exceeding five per centum
(5%) per annum, payable semi-annually on the first day of
January and the first day of July, in each year during which
said bonds shall be outstanding and remain unpaid, to be
signed by the President of the Board of County Commissioners
of said County, and by the Treasurer of said County, (pro-
vided that the coupons for the interest thereon may be authenti-
cated by the engraved, lithographed or printed signature of
the President of said Board of County Commissioners) to have
the corporate seal of said Board of County Commissioners of
Howard County affixed thereto, and to be exempt from all
State, County and Municipal taxes. The said bonds shall have
written or printed on them a distinct reference to the Act
authorizing the issue, and shall be designated as "HOWARD
COUNTY SCHOOL BONDS OF 1924. "

SEC. 2. And be it further enacted, That the said bonds shall
be dated July 1st, 1924, and shall be issued according to what
is known as the serial annuity plan, and the scries shall be let-
tered beginning with the letter ''A'' and so on down the alpha-
bet until the said amount of One Hundred and Eighty Thou-
sand Dollars ($180, 000) shall have been issued, so that the
entire principal sum shall be redeemable as follows:

Series Amount Redeemable

A.......................... $ 2, 000 July 1, 1927

B.......................... 2, 000 July 1, 1928

C.......................... 2, 000 July 1, 1929

D.......................... 2, 000 July 1, 1930

E.......................... 3, 000 July 1, 1931

F.......................... 3, 000 July 1, 1932

G.......................... 3, 000 July 1, 1933

H.......................... 4, 000 July 1, 1934

I........................... 4, 000 July 1, 1935

J........................... 4, 000 July 1, 1936

K.......................... 5, 000 July 1, 1937

L.......................... 5, 000 July 1, 1938

M.......................... 5, 000 July 1, 1939

N.......................... 6, 000 July 1, 1940

O.......................... 6, 000 July 1, 1941