656                         LAWS OF MARYLAND.,                 [CH. 246

the State Roads Commission in said county for the construction
and improvement of said roads and bridges, and

WHEREAS, The State Roads Commission has agreed that it will
permit the use by said County Commissioners for the payment
of said bonds of a sum not exceeding seventy-five per cent.
(75%) of the amount allocated to or set aside for use in said
county for the construction of lateral and post roads until said
bond issue shall have been paid; therefore,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Calvert County be and
they are hereby authorized and empowered to borrow on the
faith and credit of said county, an amount not exceeding three
hundred thousand dollars ($300, 000), and to issue serial coupon
bonds therefor, said bonds to be issued in. denominations of one
hundred dollars ($100), or any multiple thereof, to bear interest
at a rate to be determined by said County Commissioners1 not
exceeding four and one-half per cent. (41/2%) per annum, pay-
able semi-annually, in each year during1 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 coun-
tersigned by the Clerk thereof (provided that the coupons for
the interest thereon may be authenticated by the engraved, litho-
graphed or printed signature of the President of said Board of
said County Commissioners), to have the corporate seal of said
. Board of County Commissioners of Calvert County affixed
thereto, and 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 "Public Road Bonds of Calvert County, 1931. "

Sec, 2. And be it further enacted, That the said County Com-
missioners of Calvert County are hereby authorized and em-
powered to issue the said bonds and sell the same at such, time
and in such amounts as they may determine to be advisable to
meet payments required by the State Roads Commission of Mary-
land in connection with the construction and improvement of
Toads and bridges in. Calvert County. The said bonds shall be
issued in series maturing as said County Commissioners shall
determine, but none of said bonds shall be issued for a longer
period than ten years from the date of issue.

SEC. 3. And be it further enacted, That in order to provide
for the selling of said bonds to be issued under the provisions of
this Act, the said Board of County Commissioners for Calvert
County, or a majority of them, are hereby directed to advertise
once a week for three successive weeks before the bonds or any