HARRY W. NICE, GOVERNOR. 1237

provided however, that nothing herein contained shall be
construed as preventing a private sale of all or any part
of said bonds, and said Board of County Commissioners
of Montgomery County are expressly authorized and em-
powered to issue and sell all or any part of said bonds at
any time, and from time to time, either at public or private
sale, and upon such terms at, above or below the par amount
thereof, as said Board of County Commissioners of Mont-
gomery County may, in their sole discretion determine to
be to 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 payment 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, whose duty it shall be immediately
thereafter to apportion said proceeds and deposit so much
thereof as may be necessary in each of the banks or trust
companies designated as paying agents for said maturing
bonds, certificates of indebtedness or other obligations in
accounts to be entitled, "Treasurer of Montgomery County
in Trust for the Payment of

(Here insert the name or designation of such maturing
bonds, certificates of indebtedness or other obligations)
of the County Commissioners of Montgomery County. "

SEC. 5. And be it further enacted, That the proceeds
of such of said bonds as may be sold under the provisions of
this Act at any time are hereby dedicated, and when re-
ceived by the Treasurer of Montgomery County shall be
applied by him in the manner hereinabove provided ex-
clusively to the refunding or retirement of any or all of
the following maturing obligations of the County Com-
missioners of Montgomery County, except that in the case
of any of said obligations maturing after June 1, 1937, the
same shall be refunded or retired only in the event that
they may be redeemed from the holder thereof prior to
June 1, 1937:

$10, 000. 00 Montgomery County Suburban District Road
Bonds issued pursuant to the authority of Chapter 459
of the Acts of 1931, and maturing as to $5, 000. 00
principal amount thereof on October 1, 1935, and as
to $5, 000. 00 principal amount thereof on October 1,
1936.

$262, 500. 00 Montgomery County Suburban District Street
Improvement Certificates of Indebtedness, all issued
pursuant to the authority of Chapter 459 of the Acts