1020 LAWS OF MARYLAND. [CH. 479

provide for the maturity thereof in annual serial instalments,
specifying the years in which each instalment shall mature
and the amount of bonds and the numbers thereof maturing
in each instalment, so that there shall appear in said resolu-
tion or resolutions a statement of the aggregate of said bonds,
issued thereunder, to mature and be paid in each year until
the final payment thereof or until the final payment of the
total amount of said bonds to be issued. The first serial in-
stalment of said bonds shall mature not later than five (5)
years after the date of issue of the first series of said bonds
if the same are issued in series, and the maturities of all of
said bonds shall be so arranged that they shall mature in con-
secutive annual instalments beginning with a date not more
than five (5) years from the first date of issue of any of said
bonds.

SEC. 3. And be it further enacted, That said bonds shall be
known as "Public School Construction Bonds of.... Series.. ",
the calendar year in which said bonds are issued to be inserted
in the space in the title of said bonds left blank for that pur^
pure, and the series letter of each Series of such bonds, if the
same are issued in series, to be inserted in the space in the
title of said bonds left blank for that purpose, and said
bonds and the inteerst thereon shall be and remain exempt
from State, county and municipal taxation of every kind what-
soever in the State of Maryland.

SEC. 4. And be it further enacted, That in the event the
Board of County Commissioners of Montgomery County shall
determine to sell all or any series of said bonds at public sale
at any time within the limit of time prescribed by this Act,
then and in such event said Board of County Commissioners
of Montgomery County shall advertise at least once a week
for two successive weeks in a newspaper published in the City
of Baltimore, Maryland, and at least once a week for two suc-
cessive weeks in two newspapers published in Montgomery
County, Maryland, and by such other advertisement as it
shall think proper that it will be in readiness at the time and
place to be named in said advertisement within fifteen (15)
days after the final publication thereof in said newspapers
to receive sealed bids for the bonds, including the amount
thereof, described in said advertisement, under such regula-
tions as said Board of County Commissioners by its order may
prescribe. Said Board of County Commissioners may, if it
deems it advisable and upon such, conditions as it may pre-
scribe, request in said advertisement that all bidders shall
name the interest rate upon which their bids are based, and
said bonds may be offered for sale to the bidder naming the