718 LAWS OF MARYLAND. [CH. 288

proceeds thereof to be used for the purpose of making
additions or alterations to existing school buildings, to
acquire land and construct new schools, to purchase
equipment and to provide for the levy of taxes to pay
the interest on and to retire said notes and/or bonds.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Queen Anne's County,
a body corporate, in order to provide funds for the purpose
of making additions or alterations to existing school build-
ings, to purchase land and erect thereon new school build-
ings, to purchase new equipment for existing and newly
constructed schools and to pay architects and other pro-
fessional fees in connection with such construction, is
hereby authorized and empowered to borrow, from time
to time, in such amounts as it shall deem necessary, money
on the faith and credit of said County, and to issue there-
for notes or bonds, provided that in the aggregate said
notes and bonds shall not exceed the sum of Five Hundred
Thousand Dollars ($500, 000. 00), and provided that said
notes and/or bonds shall bear a rate of interest not exceed-
ing four per cent per annum; and provided further that
if said money or any part thereof shall be borrowed by
note or notes, such note or notes shall be signed by the
President of the County Commissioners and the Treasurer
of Queen Anne's County and have the seal of said County
affixed thereto; and provided further that if said money
or any part thereof shall be borrowed by the sale of bonds
that said bonds shall be designated "Public School Bonds
of Queen Anne's County", said bonds shall be serial type
bonds, either registered or coupon, and issued in such
denominations and at such rate of interest, not exceeding
4%, payable semi-annually, as shall be determined by the
County Commissioners of Queen Anne's County, and shall
mature in not exceeding twenty-five years from date of
issue, and shall forever be exempt from State, County and
Municipal taxation. Said bonds shall be signed by the
President of the Commissioners, with the Corporate Seal
of Queen Anne's County attached thereto, attested by the
Treasurer of said County, and if coupon bonds, the coupons
thereon shall be signed by the Treasurer of Queen Anne's
County, or a facsimile of his signature shall be stamped,
printed or engraved thereon. If bonds shall be issued,
they shall be sold in accordance with the provisions of
Section 35 of Article 31 of the Annotated Code of Mary-
land (1939 Edition).

SEC. 2. And be it further enacted, That the entire
proceeds arising from the sale of any bonds issued under