970 LAWS OF MARYLAND. [CH. 504

Board of County Commissioners of said County and counter-
signed by the Clerk of said Board, to bear interest at a rate
not exceeding five per centum per annum, payable semi-
annually, each and every year during which said bonds shall be
outstanding and remain unpaid, and to be exempt from State,
Municipal and County taxation. The said bonds shall have
written on them a distinct reference to the Act authorizing
the issue and shall be designated as the "Brookeville Pike
Grade Crossing Elimination Bonds of 1927. "

SEC. 2. And be it further enacted. That the said County
Commissioners of Montgomery County are authorized and
empowered to issue the said bonds and sell the same at such
times and in such amounts as they may deem necessary. The
said bonds shall be issued in series maturing as said County
Commissioners shall determine but none of said bonds shall
be issued for longer period than twenty years, from 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,
or a majority of them, are hereby directed to advertise (once
a week for four successive weeks before said bonds or any part
thereof, shall be issued) in such newspapers at such times
and in such manner as may be determined by the said board,
that the said Board of County Commissioners will be in
readiness at a certain 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 Commissioners, or a majority
of them; and at the time mentioned in said advertisements
as the time for opening the bids for the proposals thereby
called for, the said County Commissioners shall receive such
sealed proposals for the purchase of as many of such bonds
as may be mentioned or designated in said advertisements;
and on the opening of such sealed proposals, as many of said
bonds as have been bid for shall be awarded by the County