350 LAWS OF MARYLAND [CH. 58

terms of said bonds and the terms and manner of the
sale thereof, exempting said bonds from State, County
and Municipal Taxation in the State of Maryland; to
provide that the proceeds thereof shall be used by the
Board of Education of Wicomico County for the con-
struction, completing the construction or aiding in con-
struction, making additions and improvements to and
equipment of schools in or near 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.

SECTIONl. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Wicomico County,
Maryland, be and they are hereby authorized and empow-
ered 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 Seven
Hundred Thousand Dollars ($700,000.00) for the purpose
of constructing, completing the construction or aiding
in construction, making additions and improvements to and
equipping, on sites now owned by the Board of Education
of Wicomico County and /or on any nearby land hereafter
acquired by said Board for that purpose, two schools in
Wicomico County, one in or near the Eastern limits of the
City of Salisbury in the vicinity of Long Avenue and Mt.
Hermon Road, and one in or near the Northern limits of
the City of Salisbury in the vicinity of Lake Street.

SEC. 2. And be it further enacted, That the said bonds
shall be issued in the denomination of One Thousand Dol-
lars ($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 Treasurer of Wicomico County, with the seal
of said County affixed 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 six per centum (6%) per annum,
which rates may vary on the 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 like-wise determine
the form of the bonds, the medium of payment, and the
place at which the principal and interest shall be payable.
In case any of the officers whose signatures appear on the