1530 LAWS OF MARYLAND. [CH. 641

bonds shall be signed by the President of the Board of County
Commissioners, countersigned by the County Treasurer, and
the corporate seal of the County shall be attached thereto by
the Clerk of the County Commissioners and the interest
coupons attached to each of such bonds shall bear the fac-
simile signature of the County Treasurer printed, litho-
graphed or engraved thereon. Said bonds shall be exempt
from all State, County and municipal taxes.

SEC. 3. And "be It further enacted, That out of the actual
proceeds from the sale of any of said bonds shall be first paid
the cost of printing and other outlays and expenses and
charges connected with their issue and the entire balance of
said actual cash proceeds, together with any interest that may
be received on the same, shall be retained by the County
Treasurer of Cecil County until needed to pay for the pur-
poses specified in Section 1. Said payments for the aforesaid
purposes, and for no other purposes, shall be made from time
to time by the County Treasurer to the Board of Education
of Cecil County upon the order of the County Commissioners
of Cecil County. The County Commissioners shall not issue
any such order except upon written notification from the
Board of Education of Cecil County that in its best judgment
and discretion an expenditure for any of aforesaid purposes
is necessary, and setting forth the approximate amount of
expenditure and the specific use to be made of it. The said
Board of Education shall receive and expend the monies only
as herein authorized and shall account for the same and the
expenditure thereof in the same manner as they account for
other monies passing through their hands.

SEC. 4. And be it further enacted, That any premiums
realized above the par value of the whole amount of said bonds
shall be used for the purpose of paying the loan herein author-
ized.

SEC. 5. And be it further enacted, That the County Com-
missioners of Cecil County for the purpose of paying the
interest on said bonds and for redeeming said bonds as they
mature shall apply all monies, or so much thereof as may be
necessary, received from the State of Maryland under the
provisions of said Section 199C of Article 77 of the Anno-
tated Code of Maryland (1947 Supplement), as said section
may be amended from time to time, providing for an Incentive
Fund for school buildings. In the event the Incentive Fund
received from the State is not sufficient to pay the interest
on said bonds and the principal thereof, then the said County
Commissioners shall pay the deficit out of the General Funds
of the County or shall levy sufficient taxes to pay said deficit.