1226 LAWS OF MARYLAND. [CH. 587

bonds to bear such rate of interest not exceeding six per
centum (6%) per annum as may be determined by the said
County Commissioners of Montgomery County. All of said
bonds shall bear the same date and they shall be dated as of
the first day of such month not later than June 1, 1937, as
may be fixed by the County Commissioners of Montgomery
County, and the interest thereon shall be payable semi-an-
nually at intervals of six (6) months, accounting from the
date of said bonds in each and every year until said bonds
are paid. Said bonds when issued shall be signed by the
President of the said County Commissioners of Montgom-
ery County and shall be countersigned by the Clerk to said
County Commissioners of Montgomery County; the seal of
said County Commissioners of Montgomery County shall
be affixed to each bond and the interest coupons attached
shall bear the fac-simile signature of the President of the
County Commissioners of Montgomery County printed,
lithographed or engraved thereon.

SEC. 2. And be it further enacted, That the said bonds
shall be in denominations of One Thousand Dollars
($1, 000. 00) each and each bond shall be numbered, begin-
ning with the number one (1) and said bonds shall be
issued to mature in serial form in the order of their respec-
tive numbers. Prior to the issuance and sale of said bonds
the Board of County Commissioners of Montgomery County
shall pass a resolution authorizing the issuance of said
bonds in serial form specifying the years in which each
series shall mature and the amount of bonds and the num-
bers thereof maturing under each series, so that there shall
appear in said resolution a statement of the aggregate
amount of said bonds to mature and be paid in each year
until the final payment thereof or until the final payment
of the total amount of said bonds so to be issued. The re-
spective series of bonds shall mature and be payable annu-
ally after the maturity of the first series, and the maturity
of said first series shall not be later than five (5) years
after the date of issue of all of the bonds authorized by
this Act. In the event that said bonds are sold at public
sale as hereinafter provided the advertisement preceding
said sale shall contain a full copy of said resolution provid-
ing for the issue of said bonds.

SEC. 3. And be it further enacted, That said bonds shall
be known as "Public School Construction Bonds of ————
————, " the calendar year in which said bonds are issued
to be inserted in the space in the title of said bonds left
blank, and said bonds and the interest thereon shall be and