1744 LAWS OF MARYLAND. [CH. 918
CHAPTER 918.
(House Bill 842)

AN ACT to authorize the Board of County Commissioners of
Prince George's County to issue bonds to the amount of not
more than Four Hundred Thousand Dollars ($400, 000. 00)
for the purpose of the acquisition of land, the construction,
. and the purchase of equipment for a hospital in said County
and to operate same.

SECTION 1. Be it enacted by the General Assembly of Mary-
land,, That whenever the Board of County Commissioners of
Prince George's County shall deem it advisable to purchase
land, build, equip and operate a Class A hospital in Prince
'-George's County which will meet the qualifications of the
American Hospital Association it may issue bonds on the faith
and credit of Prince George's County not to exceed Four Hun-
dred Thousand Dollars ($400, 000. 00), which said bonds shall
have semi-annual interest coupons attached and shall be issued
according to what is known as the serial annuity plan. The
Board of County Commissioners shall fix the date of issue,
determine the denominations 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 bond shall mature more than twenty-five (25) years
from the date of issue; and fix the rate of interest to be paid
on said bonds or designate 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. 2. And be it further enacted, That the Board of County
Commissioners shall be empowered to sell bonds or any part
thereof authorized herein by bid of sealed proposals at the
offer which in the discretion of said Board is most advanta-
geous to the County, after having given such public notice as
it may deem proper of the time, place, manner, and terms of
sale, right being reserved to reject any or all bids. Said bonds
shall not be sold except for cash, nor for less than par, and
when issued shall be exempt from State, county and municipal
taxation. Said bonds shall be signed by the President of the
Board of County Commissioners of Prince George's County
and the Clerk to said Board, with the corporate seal of said
Board; provided that the coupons for the interest attached
thereto may be authenticated by the engraved, lithographed
or printed signatures of the President of the said Board.
Said bonds may be registered as to the principal by the Clerk
to said Board in a separate book kept by him for that pur-
pose, if such registration is desired by the holder thereof. The