274 LAWS OF MARYLAND. [CH. 268

borrow upon the faith and credit of Calvert County a sum
not to exceed Fifteen Thousand Dollars ($15, 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 per centum (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 denominations of
$100. 00 or any multiple thereof, and may be made register-
able as to principal. Such bonds shall be issued upon the
serial maturity plan in such manner as the County Com-
missioners may by resolution prescribe.

(e) Such bonds shall be signed by the President of the
Board of County Commissioners of Calvert County, coun-
tersigned 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 pro-
ceeds 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 con-
nected 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 school building at
Huntington.

(b) Said Building Committee shall consist of Mrs. Rus-
sell Ward, Allen Bowen and John Leitch, Jr. The said