ALBERT C. RITCHIE, GOVERNOR. 1133

that such construction or improvement is necessary, are hereby
authorized and empowered to borrow money on the faith and
credit of said County and to issue and sell coupon bonds there-
for to an amount not to exceed Two Hundred and Fifty Thou-
sand Dollars ($250, 000. 00) in denominations of One Hundred
Dollars ($100) or any multiple thereof, to bear interest at
the rate not exceeding five per centum (5 % ) per annum, pay-
able semi-annually on the first day of January and the first
day of July in each and every year until the same shall be
paid, coupons to be attached to said bonds for each of said
semi-annual interest payments to be signed by the president
of the said. Board of County Commissioners, the said signa-
ture either to be printed or written thereon, the said bonds
also to be signed by the said President and by the Treasurer
of said County and to have the corporate seal of said Carroll
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.

SEC. 2. And be it further enacted, That the said bonds
shall bear date of issue and shall be listed and sold in series
beginning with Series A, and subsequent series shall each be
initialed with the following consecutive letters of the alphabet,
and the bonds of each series shall be numbered consecutively
beginning with the number one (1); and the said Board of
County Commissioners from time to time issue, offer for sale
and sell, in the manner hereinafter provided, a series of said
bonds for such an amount as may be necessary at such time
or times for the construction or permanent improvement by
said Board of County Commissioners of public roads in said
County, designated for construction or improvement by said
Board of County Commissioners; and each of said series of
bonds shall be issued and sold as of the first day of July or
the first day of January in any year; and said bonds shall
bear attached thereto coupons as hereinbefore provided for the
said semi-annual payments of interest accruing after the date
of the selling of said bonds; and each of said series of bonds
shall mature and be redeemable within a period not exceeding
thirty years from the date of issue; and under such conditions
as shall be determined by resolution by the said Board of

County Commissioners; and provided that all of said bonds'
shall mature and be redeemable not later than thirty years

from the date of issue.