134 LAWS OP MARYLAND. [CH. 54

Mardela at a cost not to exceed Seventy Thousand Dollars
($70, 000. 00), an elementary school building in that section
of the city of Salisbury known as "Pinehurst" at a cost
not to exceed One Hundred, Ten Thousand Dollars ($110, -
000. 00), an elementary school building on Chestnut and
Bell Sts. in the city of Salisbury, at a cost not to exceed
One Hundred Thousand Dollars ($100, 000. 00), an addi-
tion or additions to the high school building in Delmar at
a cost not to exceed Fifty Thousand Dollars' ($50, 000. 00),
an elementary school building near Fruitland at a cost not
to exceed Fifty Thousand Dollars ($50, 000. 00), and an ad-
dition to the Lake Street colored school building in Salis-
bury at a cost not to exceed Thirty Thousand Dollars
($30, 000. 00), the County Commissioners of Wicomico
County are hereby authorized and empowered to borrow on
the faith and credit of Wicomico County the sum of Four
Hundred, Fifty Thousand Dollars ($450, 000. 00) and to
issue bonds therefor from time to time in such amounts as
may be deemed necessary by the Board of Education for
Wicomico County and when requested by said Board to
carry out the said purposes.

SEC. 2. And be it further enacted, That the said bonds
shall be issued in denominations of One Thousand Dollars
($1, 000. 00), with coupons attached thereto for the pay-
ment of interest thereon, semi-annually, on the first day of
January and the first day of July, in each and every year
thereafter until the maturity thereof; said bonds shall be
signed by the President of the County Commissioners of
Wicomico County and countersigned by the County Treas-
urer of Wicomico County with the seal of said county af-
fixed thereto; the coupons thereon shall be signed by the
County Treasurer of Wicomico County or a fac-simile of
his signature shall be printed, engraved or written thereon,
said bonds shall bear interest from the date thereof at a
rate not exceeding four percentum (4%) per annum, and
shall be exempt from all State, County and Municipal
taxation.

SEC. 3. And be it further enacted, That the said bonds
shall be issued, bearing the date of the first day of the
month in which they are issued and said bonds shall be
numbered consecutively, beginning with the number 1,
and shall be payable as follows: Twenty-five (25) bonds
in 1947, twenty-five (25) bonds in 1948, twenty-five (25)
bonds in 1949, twenty-five (25) bonds in 1950, fifty (50)
bonds in 1951, fifty (50) bonds in 1952, fifty (50) bonds