WM. PRESTON LANE, JR., GOVERNOR. 29
CHAPTER 12
(Senate Bill 13)

AN ACT to authorize and empower the County Commissioners
of Wicomico County to borrow upon the faith and credit
of Wicomico County the sum of Four Hundred Thousand
Dollars ($400,000.00) and to issue and sell coupon bonds
therefor, and to provide generally the terms of said bonds
and the terms and manner of the sale thereof, to provide
that the proceeds thereof shall be used by the Board of
Education of Wicomico County for the construction, aid
in construction, making additions and improvements to
and equipment of schools in or near Pittsville, Maryland
and Salisbury, Maryland; and to provide for the payment
of said bonds, both principal and interest, by the levy of
taxes upon all taxable property in Wicomico County.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Wicomico County be
and they are hereby authorized and empowered to issue at
one time, or from time, to time, upon the full faith and credit
of said County, coupon bonds in an amount or amounts not
exceeding in the aggregate Four Hundred Thousand Dollars
($400,000.00) for the purpose of constructing or aiding in
constructing, making additions and improvements to and
equipping, on sites now owned by the Board of Education of
Wicomico County two schools in Wicomico County, one near
the western limits of Salisbury on the Anderson Road Site
and one at Pittsville, Maryland. The authority to issue bonds
conferred by this Act shall be in addition to the authority
to issue bonds conferred by Chapter 289 of the Acts of 1947.

SEC. 2. And be it further enacted, That the said bonds
shall be issued in the denomination of One Thousand Dollars
($1,000.00), with coupons attached thereto for the payment
of interest thereon, semi-annually, until maturity; said bonds
shall be signed by the President of the County Commissioners
of Wicomico County and countersigned by the County Treas-
urer of Wicomico County, with the seal of said County af-
fixed thereto; and the coupons shall be signed by the facsimile
signature of the County Treasurer of Wicomico County
printed, engraved or lithographed thereon. Said County
Commissioners shall by resolution determine the rate or rates
of interest to be paid on the bonds, not exceeding four per
centum (4%) per annum, which rates may vary on bonds of
different maturities, and the maturity or maturities of the
bonds which shall be at a time or times not exceeding twenty
five (25) years from the date of the bonds, and shall likewise
determine the form of the bonds, the medium of payment, and
the place or places at which the principal and interest shall