HARRY W. NICE, GOVERNOR. 51

County be and they are hereby authorized and directed to
issue serial coupon bonds in denominations of one thousand
dollars each, to be signed by the President of the Board
of County Commissioners and countersigned by the Clerk
of said Board, not to exceed in the aggregate twenty thou-
sand ($20, 000) dollars, and to bear interest at a rate not
to exceed five per cent. (5%) per annum, payable semi-
annually on the first day of January and July in each and
every year; said bonds shall be exempt from State,
County and Municipal taxation, and the coupons of said
bonds, shall, as they become due and payable, be receivable
by the Treasurer of Charles County in the payment of
County taxes. The said bonds shall be sold by the County
Commissioners,, after due advertisement, to the highest
bidder or bidders, but the said County Commissioners shall
have the right to reject any or all bids.

SEC. 2. And be it further enacted, That said bonds shall
be dated January 1st, 1936, and shall be numbered from
one to twenty, inclusive, and so issued that number one
shall mature and become payable January 1, 1937, number
two, January 1, 1938, and so on in consecutive order, one
bond maturing and becoming payable each year, until all
of said bonds shall have matured and been redeemed.

SEC. 3. And be it further enacted, That the bonds au-
thorized by this Act shall be designated as "Court House
Refunding Bonds of Charles County, " and shall contain
a reference to this Act, and the funds derived from the
sale of said bonds shall be used for redeeming and paying
the Court House Bonds of Charles County authorized by
Chapter 546 of the Acts of 1894 and which become due
January 1, 1936.

SEC. 4. And be it further enacted, That the County
Commissioners of Charles County be and they are hereby
authorized and directed to levy annually on the taxable
property of said County a sum of money sufficient to pay
the interest on said bonds and to redeem said bonds as
they mature and become payable, and said taxes shall be
collected in like manner as other taxes are collected in
said County and when collected, shall be applied to the
payment of the interest on said bonds and the redemption
of said bonds as they mature and become payable.

SEC. 5. And be it further enacted, That this Act shall
take effect June 1, 1935.

Approved: April 29, 1935.