802 LAWS OF MARYLAND. [CH. 367

be necessary to accept any offer of the United States Govern-
ment or any subdivision thereof but not to exceed three hun-
dred and fifty thousand dollars ($350, 000). The proceeds from
the sale of said bonds together with moneys appropriated by
the United States Government or any subdivision thereof shall
be paid over to the Allegany County Board of Education and
shall be used exclusively for the erection of new junior-senior
high schools at Mount Savage and Lonaconing and a new
school at Ellerslie, and for repairing and improving the schools
at Midland, La Vale, Flintstone, Beall, Corrigansville and Co-
lumbia Street. The raising and borrowing of this amount and
the issuance of the bonds provided for in this Act shall not be
required to be submitted to a vote of the people.

SEC. 2. And be it further enacted, That the County Com-
missioners of Allegany County may provide for the issue and
sale of said bonds in accordance with the provisions of this
Act. The Commissioners may prescribe the form and tenor
of said bonds; the rate of interest, not exceeding five per
centum (5%) per annum, to be paid therefor; the time and
place at which said interest is to be paid; and the method of
selling said bonds either by public sale or private negotiation
at above or below the par value thereof. Said bonds shall be
in coupon form, registerable as to principal only, shall be in
denominations of One Hundred Dollars ($100. 00) or any
multiple thereof as may seem advisable to the County Com-
missioners, shall be numbered consecutively beginning with
No. One (1), and shall mature serially at the rate of Thirty-five
Thousand Dollars ($35, 000. 00) each year during the years
1946 to 1955, inclusive. All said bonds when issued shall be
exempt from Maryland State, county and municipal taxa-
tion.

SEC. 3. And be it further enacted, That these bonds shall
be known as "Public School Construction Bonds of 1939" and
the proceeds derived from the sale of any such bonds shall be
used exclusively by the Board of Education for Allegany Coun-
ty for the purposes for which such bonds are authorized and
for paying the cost of engraving or printing the bonds and all
other incidental costs and expenses connected with the is-
suance of said bonds.

SEC. 4. And be it further enacted, That for the purpose of
paying the interest on said bonds and for redeeming said
bonds when they mature, the County Commissioners of Alle-
gany County shall annually until all of said bonds issued un-
der the authority of this Act shall mature and be redeemed,
levy a tax upon the assessable property of said County suffi-