296 LAWS OF MARYLAND. [CH. 137

proper, to give validity to said bonds. The Board of Education
of Anne Arundel County is hereby directed and empowered to
sell and dispose of the bonds therein authorized, at public sale to
the highest bidder or bidders therefor for cash, after thirty (30)
days' public notice by advertisement, provided the said bond
issue or any part thereof shall not be sold for less than par and
accrued interest; and the sale of part or all of said bonds shall
be made at such time and in such amount as the said board shall
deem advisable to carry out the objects of this Act.

SEC. 3. And be it further enacted, That for the purpose of
paying the interest on said bonds, and for redeeming the said
bonds as they mature, the said Board of County Commissioners
shall, for the year 1924, and annually thereafter, until all of
said bonds issued under the authority of this Act shall mature
and be redeemed, levy a tax upon the assessable property of said
County, sufficient to pay the annual interest on said bonds out-
standing, and to redeem said bonds as they mature and become
due; said taxes to be collected as other taxes levied in said coun-
ty are collected and the amount so collected shall be turned over
to the Treasurer of the Board of Education to be used to meet
the provisions of this Act.

SEC. 4. And be it further enacted, That the said treasurer of
the Board of Education of Anne Arundel County shall keep a
separate account of the money collected each year by him for and
applied to the payment of the interest and deposited to meet
the principal of said bonds at maturity, and no part of which
shall be chargeable with insolvencies allowed the treasurer on
account of failure of collections.

SEC. 5. And be it further enacted, That said bonds shall be
issued and paid upon the serial annuity plan hereinbelow speci-
fied, and all within twenty-six years after the issuance thereof
and each series as issued shall be dated July 1, 1924, and let-
tered beginning with the letter "A" and so on down the alpha-
bet, until the said amount of Two Hundred and Twenty-five
Thousand Dollars ($225, 000) shall have been issued, so that the
entire principal sum shall be redeemable as follows:

Series A ..................... $9, 000. 00 July 1, 1926

Series B ..................... 9, 000. 00 July 1, 1927

Series C ..................... 9, 000. 00 July 1, 1928

Series D ..................... 9, 000. 00 July 1, 1929

Series E ..................... 9, 000. 00 July 1, 1930

Series F ..................... 9, 000. 00 July 1, 1931