HERBERT R. O'CONOR, GOVERNOR. 1045

County be and they are hereby authorized and empowered
to borrow upon the faith and credit of Calvert County a
sum not to exceed One Hundred Thousand Dollars ($100, -
000) for the purposes of this Act and to issue coupon
bonds therefor.

(b) The County Commissioners of Calvert County
shall by resolution prescribe the form and tenor of such
bonds; the rate of interest, not exceeding three percentum
(3%) per annum, to be paid thereon; the date of issue;,
and the time and place at which interest is to be paid..
Such bonds shall be in coupon form, shall be in denomi-
nations of $100. 00 or any multiple thereof, and may be
made registerable as to principal. Such bonds shall be
issued upon the serial maturity plan in such manner as:
the County Commissioners may by resolution prescribe.

(c) Such bonds shall be signed by the President of
the Board of County Commissioners of Calvert County,
countersigned by the County Treasurer, and the corporate
seal of the county shall be attached thereto by the Clerk
of the County Commissioners; and the interest coupons
attached to each of such bonds shall bear the facsimile
signature of the County Treasurer printed, lithographed
or engraved thereon.

SEC. 2. And be it further enacted, That any bonds
issued under the provisions of this Act shall be sold in
the manner prescribed by Section 35 of Article 31 of
the Annotated Code of Maryland (1939 Edition) at such
time or times as the County Commissioners of Calvert
County may deem proper.

SEC. 3. And be it further enacted, That the entire
proceeds arising from the sale of any bonds issued under
the provisions of this Act, after the payment of the costs
of engraving and all other incidental costs and expenses
connected with the issuance of the bonds shall be paid
over by the County Commissioners of Calvert County to
the County Treasurer to be held in a separate account
subject to the order of the County Board of Education,
and to be spent only as provided in Section 4 of this Act.

SEC. 4. And be it further enacted, That (a) The Board,
of Education of Calvert County acting in conjunction
with a building committee hereby formed shall have the
power to use the proceeds from the sale of any bonds
issued under this Act to provide for the acquisition of a
site and the erection of and equipment for a public high
school building in Prince Frederick, and to pay any ex-
pense incurred in providing for the acquisition of a site?