ALBERT C. RITCHIE, GOVERNOR. 353

the said County Commissioners attached, and said bonds are
expressly declared to be a direct obligation upon Anne Arundel
County.

SEC. 2. And be it further enacted, That the said bonds shall
bear interest at an annual rate not exceeding five per cent.
(5%) payable semi-annually upon the first day of January and
July in each year, and said bonds shall be exempt from taxa-
tion for county and municipal purposes when held by citizens of
the State of Maryland. The bonds shall be known as "Anne
Arundel County Public School Bonds, " and this shall be
printed or lithographed on each bond, with a reference to this
Act as authorizing the same. The Board of Education of Anne
Arundel County and the County Commissioners of Anne
Arundel County are hereby expressly authorized to do any and
all acts and things in connection with said bond issue that may
be proper, to give validity to said bonds. The Board of Educa-
tion of Anne Arundel County is hereby directed and empow-
ered to sell and dispose of the bonds therein authorized, at pub-
lic 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 Commis-
sioners 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 prop-
erty of said county, sufficient to pay the annual interest on said
bonds outstanding, and to redeem said bonds as they mature
and become due; said taxes to be collected as other taxes levied
in said county 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
12