934 LAWS OF MARYLAND. [CH. 481

Dollars ($150, 000. 00) par value, said bonds, to be issued in
denominations of one hundred dollars ($100. 00) or any mul-
tiple thereof, to bear interest at a rate not exceeding five per
centum (5%) per annum, payable semi-annually in each year
during which said bonds shall be outstanding and remain un-
paid, to be signed by the President of the Board of County
Commissioners of said County, and countersigned by the Clerk
thereof, provided that the coupons for the interest thereon
may be authenticated by the engraved, lithographed or printed
signature of the President of said Board of County Commis-
sioners of Montgomery County affixed thereto, and to be ex-
empt from all State, county and municipal taxes. The said
bonds shall have written or printed on them a distinct refer-
ence to the Act authorizing the issue, and shall be designated
as "Montgomery County School Gymnasium Bonds of 1927. "

SEC. 2. And be it further enacted, That the said County
Commissioners of Montgomery County are authorized and em-
powered to issue the said bonds and sell the same! at such time
and in such amounts as they may be called upon so to do by
the Board of Education of said county until the whole amount
of One Hundred Fifty Thousand Dollars ($150, 000. 00) shall
have been issued and sold. The said bonds shall be issued in
series maturing as said County Commissioners shall determine,
but none of said bonds shall be issued for a longer period than
twenty-five years from the date of issue.

SEC. 3. And be it further enacted, That in order to pro-
vide for the selling of said bonds to be issued under the pro-
visions of this Act, the said Board of County Commissioners
of Montgomery County, or a majority of them, are hereby di-
rected to advertise once a week for four successive weeks before
said bonds, or any part thereof, shall be issued in such news-
papers as may be determined by the said Board, that the said
Board of County Commissioners will be in readiness at a cer-
tain time within fifteen days after the expiration of said
notice, to receive bids at such place as may be named in said
advertisements, for bonds issued under the provisions of this
Act, under such regulations as may be made in the discretion
of said County Commissioners, or a majority of them, and the
accrued interest between the date of the bonds and the time
of sale and delivery of, and payment for, said bonds shall be
adjusted with the purchaser or purchasers thereof under such
regulations as may be made in the discretion of said County