ALBERT C. RITCHIE, GOVERNOR. 661

or sites respectively therefor; and to authorize the levying
and collecting of a tax for the payment of the said bonds,
with interest thereon; and generally to provide for the issu-
ing of said bonds and to defray the costs and expenses
thereof.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of said Talbot County be,
and they are hereby authorized and empowered to borrow on
the faith and credit of said Talbot County the sum of Two
Hundred and Twenty-five Thousand Dollars ($225, 000), and
to issue coupon bonds therefor in the sum of One Thousand
Dollars ($1, 000. 00) each, and in accordance with the serial
numbers and designations, as hereinafter provided; and that
each of the said bonds is to be signed by the President of the
Board of County Commissioners of Talbot County, and to be
sealed with the corporate seal of the said County Commissioners
for Talbot County, duly attested by the County Treasurer for
Talbot County. Said bonds shall be named or denominated
''Talbot County General School Loan Bonds 1927" and said
bonds shall bear interest at the rate of four per centum per
annum, and payable semi-annually, accounting from the date
of the issue of said bonds, and shall be sold by the County Com-
missioners of Talbot County, as is hereinafter provided.

SEC. 2. And be it further enacted, That the proceeds of the
said bonds shall be deposited by the said County Commissioners
for Talbot County in some bank, or banks, located in Talbot
County, upon the best rate of interest possible, and shall be
turned over, or paid, by the said Commissioners, unto the Board
of Education for Talbot County, from time to time, as said
Board of Education may require the same, in the repairing,
rebuilding, improving, altering, constructing, and equipping
such schools as are, or may hereafter be located, built, or con-
structed, repaired, enlarged, improved, or equipped, at Easton,
St. Michaels, Tilghman, Cordova, Oxford, and Bruceville, afore-
said; and the said Board of Education is authorized and em-
powered to use and apply the said monies for the uses and
purposes aforesaid.

SEC. 3. And be it further enacted, That in issuing said bonds
for said loan, as herein provided, the Board of County Commis-
sioners for Talbot County shall issue said bonds in accordance
to what is known as the Serial Annuity Plan, and each series,
as provided herein, shall be lettered, beginning with A and so
on down the alphabet, as hereinafter set forth, until the said
amount of $225, 000. 00 shall have been provided for and issued,
and so that the entire principal shall become due and payable,
and all of the bonds shall become redeemable, as follows: