ALBERT C. RITCHIE, GOVERNOR.                  513

safety and welfare of the county, and under the general author-
ization of the Board of County Commissioners to borrow money
for the temporary needs of the county government on the faith
and credit of Montgomery County between the levy periods,
have authorized the construction of certain schools, in addition
to existing buildings, the purchase of equipment therefor, and
the purchase of certain school sites, and for the purpose of pay-
ing for said construction, equipment, and school sites, and have
in addition to the aforegoing used in payment therefor general
funds of Montgomery County alloted to the Board of Educa-
tion under the budget submitted by it for operating expenses
and so have arranged to finance the same until such time as
funds might be made available by the issuance of bonds by the
said Board of County Commissioners of Montgomery County,
under the authorization of the Maryland General Assembly at
its 1931 session; therefore,

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Board of County Commissioners of Mont-
gomery County be and it is hereby authorized and empowered
to issue serial coupon bonds on the faith and credit of said
county to the amount of seventy-eight thousand ($78, 000. 00)
dollars, par value, said bonds to be issued in denominations of
one hundred ($100. 00) dollars or any multiple thereof, to bear
interest at the rate of not exceeding five per centum (5 %) per
annum, payable semi-annually, in each year during which
said bonds shall be outstanding and remain unpaid, to be signed
by the president of the Board of County Commissioners of
said county and countersigned by the clerk thereof (provided
that the coupons for the interest thereon may be authenticated
by the engraved, lithographed or printed signature of the presi-
dent of said Board of County Commissioners), to have the
corporate seal of said Board of County Commissioners of Mont-
gomery County affixed thereto, and to be exempt from all State,
county and municipal taxes. The said bonds shall have written
or printed on them a distinct reference to the Act authorizing
the issue and shall be designated as "Montgomery County
School Funding Bonds of 1931. "

SEC. 2. And be it further enacted, That the said County
Commissioners of Montgomery County are authorized and em-
powered to issue the said bonds and sell the same at such time
and in such amounts as they may deem necessary, until the