ALBERT C. RITCHIE, GOVERNOR. 1213

borrow on the faith and credit of said Talbot County the sum
of Thirty Thousand Dollars ($30, 000), and to issue coupon
bonds therefor in the sum of One Thousand Dollars ($1, 000)
each, and in accordance with the serial numbers and designa-
tions, as hereinafter provided; and that each of said bonds
is to be signed by the President of the Board of County Com-
missioners of Talbot County and to be sealed with the cor-
porate seal of the said County Commissioners for Talbot Coun-
ty, duly attested by the County Treasurer for Talbot County.
Said bonds shall be named or denominated "Talbot County
General School Loan Bonds 1929" and said bonds shall bear
interest at the rate of four per centum per annum, and pay-
able semi-annually, accounting from the date of the issue of
said bonds, and shall be sold by the County Commissioners 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, to pay for
completing and repairing, rebuilding, improving, altering, con-
structing and equipping such schools as are, or may hereafter
be located, built or constructed, repaired, enlarged, improved
or equipped, at Easton, St. Michaels, Tilghman, Cordova, Ox-
ford and Bruceville aforesaid, or any of them; and the said
Board of Education is authorized and empowered to use and
apply the said moneys for the use 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
Commissioners 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 Thirty Thousand Dollars ($30, 000)
shall have been provided for and issued, and so that the en-
tire principal shall become due and payable, and all of the
bonds shall become redeemable, as follows:

Series "A"........ Five Thousand Dollars,

payable September 1, 1936