1228 LAWS OF MARYLAND. [CH. 587

below the par amount thereof as said Board of County Com-
missioners of Montgomery County may, in their sole dis-
cretion, determine to be for the best interests of the people
of Montgomery County. All interest accrued between the
date of said bonds and the time of the delivery of and pay-
ment for the same shall be adjusted with the purchaser
thereof to the date of such payment. All payments of the
purchase price for such of said bonds as may be sold shall
be made to the Treasurer of Montgomery County and shall
by him be deposited in a special account to be designated,
"Board of Education: School Construction Account, " and
funds shall be withdrawn from said account only upon the
order of the Board of Education of Montgomery County.

SEC. 5. And be it further enacted, That the County
Commissioners of Montgomery County shall promptly pro-
ceed to issue and sell the bonds authorized to be issued and
sold by this Act upon the request in writing by the Board
of Education of Montgomery County that the money
authorized to be borrowed by this Act shall be made avail-
able to it subject to the following qualifications and condi-
tions:

(1) In the event that the pending application of the
Board of Education of Montgomery County for a loan and
grant of Eight Hundred and Fifty Thousand Dollars
($850, 000. 00) from the Federal Emergency Administration
of Public Works shall be granted, or in the event that the
United States of America or any agency thereof shall offer
to lend and/or grant to the County Commissioners of
Montgomery County or to the Board of Education of Mont-
gomery County a sum equal to the sum requested in said
pending application for the purpose of carrying out the
school construction program hereinafter described, then
and in such event the Board of Education of Montgomery
County shall have authority to make the request herein-
above described, and the County Commissioners of Mont-
gomery County shall have authority to comply with such
request and to borrow from the United States of America
or any agency thereof a sum not to exceed Eight Hundred
and Fifty Thousand Dollars ($850, 000. 00) and to issue to
the United States of America or any agent thereof its
coupon bonds to evidence such borrowing, in the form here-
inabove prescribed, provided, however, that prior to such
borrowing the Board of Education of Montgomery County
shall certify to the County Commissioners of Montgomery
County that the terms and conditions of such loan or grant
necessitate the borrowing of such larger sum in order to