246 LAWS OF MARYLAND. [CH. 289

urer 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
four per centum (4%) per annum, and the maturity or
maturities of the bonds, which shall be at a time or times
not exceeding twenty (20) 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 prin-
cipal and interest shall be payable. In case any of the officers
whose signatures appear on the bonds and coupons shall cease
to be such officers before the delivery of such bonds, such sig-
natures shall nevertheless be valid and sufficient for all pur-
poses, as if they had remained in office until such delivery.
The bonds may be made registerable as to principal only,
under such terms and conditions as may be determined by
said County Commissioners.

SEC. 3. And be it further enacted, That the County Com-
missioners of Wicomico County shall advertise the said bonds
in at least two newspapers published in Wicomico County,
Maryland, and by such other advertisement as may to them
seem proper and advisable, inviting sealed proposals for the
purchase of said bonds or any part thereof, with the privilege
of rejecting any or all bids, and no bid shall be accepted at
less than par and accrued interest; the entire issue of bonds
may be offered at one time, or they may be offered in varying
amounts at different intervals, as may seem most advantage-
ous to the Board of Education of Wicomico County in com-
pleting the construction and equipment of the schools for the
erection of Which the proceeds of said bonds are to be used;
and no part of the money arising from the sale of said bonds
shall be used except for the purposes designated and provided
for in this Act, except that any accrued interest shall be set
aside in a separate interest fund and be devoted to the pay-
ment of the first maturing coupons, and provided further,
that the cost of engraving or printing said bonds and the cost
of advertising authorized by this Act, and any other expenses
incidental to the issuance and sale of said bonds, may be paid
out of said funds.

SEC. 4. And be it further enacted, That the proceeds aris-
ing from the sale of said bonds shall be paid over to the Treas-
urer of Wicomico County, and credited by him to the Board of
Education of Wicomico County, to be used in the discretion of
the members of said Board of Education and under their super-
vision and direction for building and equipping the aforesaid