WM. PRESTON LANE, JR., GOVERNOR. 1529

less than $50. 00 per month from retirement payments shall
receive an additional $25. 00 under this section; all receiving
between $50. 00 and $75. 00 an additional $20. 00.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1949.

Approved April 29, 1949.

CHAPTER 641

(House Bill 722)

AN ACT authorizing and empowering the County Commis-
sioners of Cecil County to borrow upon the faith and credit
of Cecil County a sum of money not to exceed One Million
Dollars ($1, 000, 000. 00) by the issuance and sale of coupon
bonds, the rate of interest of which shall not exceed three
per cent (3%) per annum; and providing further that the
proceeds thereof be used exclusively for the purpose of
erecting school buildings, equipping school buildings, alter-
ing and building additions to existing school buildings, and
providing for the payment of the interest and principal of
the bonds issued under this Act.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the County Commissioners of Cecil County be and
they are hereby authorized and empowered to borrow at such
time or times as they may decide, upon the faith and credit
of Cecil County, a sum or sums of money not to exceed One
Million Dollars ($1, 000, 000. 00) at a rate of interest not to
exceed three per cent (3%) per annum, for the purpose of
erecting new school buildings, purchase of land for said
buildings, architect and other professional fees in connection
with school buildings, alterations or additions to existing
school buildings, and equipping school buildings in Cecil
County.

SEC. 2. And be it further enacted, That such bonds shall
bear interest at a rate not exceeding three per cent (3%) per
annum and shall be issued on the serial maturity plan so
that one-twenty-fifth of the principal amount of the bonds
issued is retired each year. The County Commissioners of
Cecil County shall by resolution prescribe the form and tenor
of such bonds, the date or dates of issue, the amounts of issue
and the time and place at which interest is to be paid. Such