x HERBERT R. O'CONOR, GOVERNOR. 185

from time to time, upon the faith and credit of said
Baltimore County a sum not to exceed a total of
Two Million ($2, 000, 000. 00) Dollars by the issuance
and sale of bonds therefor; providing generally
for the terms of said bonds and the time and man-
ner of their sale; that the proceeds thereof be used
exclusively for the erection and equipment of new public
school buildings, the purchase of any land necessary
therefor, and the permanent improvement of old public
school buildings in said County; providing for the pay-
ment of said bonds, principal and interest, by the levy
of taxes; and specifically exempting said bonds from all
of the requirements of Sections 35 and 36 of Article 31
of the Annotated Code of Maryland (1939 Edition).

SECTION 1. Be it enacted by the General Assembly of Maryland.
That the County Commissioners of Baltimore County, a body
corporate, in order to provide funds for the erection and
equipment of new public school buildings, the purchase of
any land necessary therefor, and the permanent improve-
ment of old public school buildings in said County, is hereby
authorized and empowered at one time, or from time to time,
to borrow money on the faith and credit of said County and
to issue and sell at one time, or from time to time, its bonds
therefor, not to exceed in the aggregate the sum of Two Mil-
lion ($2, 000, 000. 00) Dollars. Such bonds shall be designated,
"Public School Bonds of Baltimore County, " and shall be of
such denomination or denominations and of such type or form,
of such periods of maturity, not exceeding 35 years, and
their rate or rates of interest, not exceeding 4% per annum, all
as the County Commissioners of Baltimore County may deem
advisable. Said bonds shall be signed by the President of
the County Commissioners of Baltimore County and the
Treasurer of said County, and have the corporate seal of Bal-
timore County affixed thereto. The principal amount of said
bonds and every part thereof and the interest payable thereon
shall be and remain exempt from taxation by the State of
Maryland and by the Counties and municipalities of said
State.

SEC. 2. And be it further enacted, That before proceed-
ing to sell any of said bonds at any time, the County Com-
missioners of Baltimore County shall advertise once a
week for not less than two successive weeks in one news-
paper published in Baltimore County and by such other
advertisements as they shall think proper, that they will
receive sealed bids for the bonds described in said adver-
tisement under such regulations as the County Commis-