1452 LAWS OF MARYLAND. [CH. 600

how the rate of interest may be determined when said bonds
are offered for sale, provided said interest rate shall not ex-
ceed five per cent (5%) per annum, and determine other de-
tails regarding the form of said bonds.

SEC. 3. And be it further enacted, That when the Board
of County Commissioners of Prince George's County shall
have authorized the issuance of said bonds and when the
Board of Education of Prince George's County shall have
received from the Board of County Commissioners a certified
copy of its resolution, or resolutions, as provided in Sections
1 and 2 hereof, and not before, the said Board of Education
shall be authorized to borrow, on endorsement of the Board
of County Commissioners of Prince George's County, which
is hereby directed to endorse such bonds on the faith and
credit of said County, such amount or amounts as the Board
of County Commissioners shall have authorized within the
limitations hereinbefore set forth.

SEC. 4. And lie it further enacted. That the Board of Edu-
cation shall be empowered to sell said bonds or any part
thereof, from time to time, authorized in the above resolution
by sealed bids at the offer which in the discretion of said
Board is most advantageous to the County, after having
given such public notice as it may deem proper of the time,
place, manner and terms of sale, right being reserved to re-
ject any or all bids. Said bonds shall not be sold except for
cash, nor for less than par, and when issued shall be exempt
from State, County and municipal taxation. Said bonds shall
be signed by the President of said Board of Education of
Prince George's County and countersigned by the County
Superintendent of Schools and endorsed by the President
of the Board of County Commissioners of Prince George's
County and the Clerk to said Board, with the corporate seals
of said Boards; provided that the coupons for the interest
attached thereto may be authenticated by the engraved, litho-
graphed or printed signatures of the President of the said
Board of Education and the County Superintendent. Said
bonds may be registered as to the principal by the County
Superintendent of Schools in a separate book kept by him
for that purpose, if such registration is desired by the holder
thereof. The principal and the interest thereon shall be paid
at some bank or trust company to be determined by the
Board of County Commissioners and the place of payment
shall be stated on the bonds and on the coupons. In case
such bonds or any of them shall be issued in any year after
the making of the annual levy for the year by the Board of
County Commissioners of Prince George's County, then said