HERBERT R. O'CONOR, GOVERNOR. 737

shall be exempt from all state, county and municipal taxa-
tion.

SEC. 3. And be it further enacted, That the said bonds
shall be issued bearing the date of the first day of the
month in which they are issued and said bonds shall be
numbered consecutively, beginning with the number 1, and
shall be payable as follows: Ten (10) bonds in 1952, Ten
(10) bonds in 1953, Ten (10) bonds in 1954, Ten (10)
bonds in 1955, Twenty (20) bonds in 1956, Twenty (20)
bonds in 1957, Twenty (20) bonds in 1958, Twenty (20)
bonds in 1959, Thirty (30) bonds in 1960, Fifty (50) bonds
in 1961, Fifty (50) bonds in 1962, Fifty (50) bonds in
1963, Fifty (50) bonds in 1964, Fifty (50) bonds in 1965,
and Fifty (50) bonds in 1966; provided said bonds shall
contain a provision reserving the right to the County Com-
missioners of Wicomico County to call or redeem the same
before the maturity thereof, upon payment of the principal
amount and accrued interest, and after such previous
notice to the holder or holders thereof as the said County
Commissioners shall determine.

SEC. 4. And be it further enacted, That the said inter-
est coupons and the said bonds shall be payable at the office
of the County Treasurer of Wicomico County, and when-
ever such coupon or coupons, bond or bonds, shall have
been paid or redeemed it or they shall be cancelled or
destroyed by the County Treasurer and note thereof made
on the record of said bond.

SEC. 5. And be it further enacted, That the County
Commissioners of Wicomico County, Maryland, shall adver-
tise the said bonds in at least two newspapers published in
Wicomico County, and by such other advertisement as may
to them seem proper and advisable, inviting sealed pro-
posals for the purchase of said bonds or any part thereof,
with the privilege to the said County Commissioners of
Wicomico County to reject any and all bids, and no bid
shall be accepted at less than par; the said County Com-
missioners shall advertise said bonds for such length of
time as to them may seem adequate, and shall offer said
bonds either all at the same time or at different intervals
and amounts as may be most advantageous to the Board of
Education of Wicomico County in carrying on the work for
which said bonds are issued; and no part of the money
arising from the sale of said bonds shall be used except for
the purposes designated and provided for in this Act; pro-
vided that the cost of engraving or printing said bonds and

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