ALBERT C. RITCHIE, GOVERNOR.                  599

than seventy-nine thousand ($79, 000) dollars, which was tem-
porarily financed by said Board to complete the construction,,
equipment and repair of public school buildings in Frederick
County, are hereby directed to borrow money on the faith and
credit of Frederick County to the. amount of one hundred
twenty-four thousand ($124, 000. 00) dollars, and to issue and
sell coupon bonds on the faith and credit of said county, to the
amount of one hundred twenty-four thousand ($124, 000. 00)
dollars, par value, to be dated April 1st, 1931, and to mature
serially as set forth in the next paragraph; said bonds, to be
issued in denominations of one thousand ($1, 000. 00) dollars,
to bear interest from date of issue thereof at the rate of four
and one-quarter per cent, per annum, payable semi-annually
on the first days of April and October, in each and every year
during which said bonds shall be outstanding and remain un-
paid, to be signed by the President of the Board of County
Commissioners of said county, and countersigned by the Clerk
thereof, and that the coupons for the interest thereon may be
authenticated by the engraved, lithographed or printed signa-
ture of the President of said Board of County Commissioners,
or the Clerk thereof, and to bear the corporate seal of said
Board of County Commissioners for Frederick County affixed
thereto, and to be exempt from any and 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 "Frederick County School Bonds
of 1931. "

SEC. 2. And be it further enacted, That said bonds shall
be issued in series to mature as follows:

October 1, 1941............   $12, 000: 00

October 1, 1942___.. ^___    12, 000. 00

October 1, 1943.......^.....    12, 000. 00

October 1, 1944............    12, 000. 00

October 1, 1945............     12, 000. 00

October 1, 1946............     12, 000. 00

October 1, 1947............    12, 000. 00

October. 1, 1948............     12, 000. 00

October 1, 1949............    12, 000. 00

October 1, 1950___........    16, 000. 00

SEC. 3. And be it further enacted, That the actual pro-
ceeds of the sale of said bonds shall be used exclusively for the