HARRY W. NICE, GOVERNOR. 1235

ture in serial form, and said resolution shall specify the
years in which each series shall mature, the series matur-
ing in each year, and the amount of bonds maturing under
each series, so that there shall appear in said resolution a
statement of the aggregate amount of said bonds to ma-
ture and be paid in each year until the final payment there-
of, or until the final payment of the total amount of said
bonds so to be issued. The respective series of bonds shall
mature and be payable annually after the maturity of the
first series, and the maturity of said first series shall be
not later than five years after June 1, 1937. In the event
that the whole or any part of said bonds are sold at public
sale as hereinafter provided, the advertisement preceding
said sale shall contain a full copy of said resolution pro-
viding for the issue of said bonds.

SEC. 3. And be it further enacted, That said bonds shall
be known as "Suburban District Refunding Bonds of
", the space left blank in the title of said bonds
to be used for the insertion of the year or years in which
said bonds or any part thereof are issued, and said bonds
shall be further identified by series letters in the event that
they are not all issued and sold at one time, and said bonds
shall be issued to mature in not more than fifteen years
from the date or dates of issue thereof, and the County
Commissioners of Montgomery County shall prescribe the
medium of payment of the principal of and the interest on
said bonds, and the place or places in Maryland or elsewhere
at which such principal or interest shall be payable. Said
bonds may, in the discretion of the County Commissioners
of Montgomery County be issued subject to registration as
to principal only, or as to principal and interest, and sub-
ject to redemption prior to maturity by and at the option
of the County Commissioners of Montgomery County, at
such price and under such terms and conditions as the
County Commissioners of Montgomery County may deter-
mine prior to the issuance of said bonds. The County Com-
missioners of Montgomery County shall have the authority
to exchange any or all of the bonds authorized hereby at
any time for not less than an equal face amount of the
bonds, certificates of indebtedness or other obligations au-
thorized hereby to be refunded or retired, including bonds,
certificates of indebtedness or other obligations not ma-
tured or redeemable, provided that the holders of such
bonds, certificates of indebtedness or other obligations shall
agree to surrender the same for retirement or refunding,
and provided further that said bonds, certificates of in-