HERBERT R. O'CONOR, GOVERNOR. 1327

time in the joint discretion of said boards; and to authorize
the County Commissioners of Prince George's County to levy
such tax on the assessable basis of said county as may be
necessary to pay the interest on such of said bonds as may
be outstanding from time to time, and to redeem said bonds
as they become due and payable.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That whenever the Board of Education of Prince George's
County shall think it advisable to build and equip a certain
new school house or (school houses, or construct an addition or
additions to existing school house or houses at the hereinafter
named location or locations, it may by resolution request the
County Commissioners of said county to issue bonds of said
County to pay for the same, and if the County Commissioners
of said County concur in the advisability of issuing such bonds
for the purpose indicated in such resolution, they may by their
resolution order that the same shall be issued as hereinafter
provided, but the total amount of bonds issued hereunder shall
not exceed the sum of Sixty Thousand Dollars ($60, 000. 00)
and the proceeds shall be spent in accordance with the pro-
visions hereof.

SEC. 2. And be it further enacted, That such bonds shall
have semi-annual interest coupons attached and shall be issued
according to what is known as the serial annuity plan, and
each issue shall be in series, lettered accordingly. The County
Commissioners in the aforesaid resolution shall fix the date of
issue; determine the denomination of each bond of not less
than One Hundred Dollars ($100. 00), nor more than One
Thousand Dollars ($1, 000. 00); fix the amount to be paid each
year, provided that no series shall mature more than 25 years
from the date of issue and no payment on account of principal
shall exceed Six Thousand Dollars ($6, 000. 00) in any one year;
and fix the rate of interest to be paid on said bonds or desig-
nate how the rate of interest may be determined when said
bonds are offered for sale, provided said interest rate shall not
exceed five per cent (5%) per annum.

SEC. 3. And be it further enacted, That when the Board of
Education of Prince George's County shall have received from
the County Commissioners their resolution or resolutions, as
provided in Sections 1 and 2, hereof, and not before, the said
Board of Education shall be authorized to borrow, on endorse-
ment of the County Commissioners of Prince George's County,
who are hereby directed to endorse such bonds on the faith
and credit of said County, the following amounts or any of
them or all of them if the same are named in the original reso-