WM. PRESTON LANE, JR., GOVERNOR. 723
CHAPTER 293
(Senate Bill 464)

AN ACT to authorize and empower the County Commis-
sioners of Wicomico County to borrow upon the faith
and credit of Wicomico County the sum of One Million
Two Hundred Thousand Dollars ($1, 200, 000. 00) and
to issue and sell coupon bonds therefor, and to pro-
vide generally the terms of said bonds and the terms and
manner of the sale thereof, exempting said bonds from
State, County and Municipal Taxation in the State of
Maryland; to provide that the proceeds thereof shall be
used by the Board of Education of Wicomico County
for the construction, completing the construction or aid-
ing in construction, making additions and improvements
to and equipment of schools in or near Salisbury, Mary-
land; and to provide for the payment of said bonds, both
principal and interest, by the levy of taxes upon all tax-
able property in Wicomico County.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Wicomico County,
Maryland, be and they are hereby authorized and em-
powered to issue at one time or from time to time, upon
the full faith and credit of said County, coupon bonds in
an amount or amounts not exceeding in the aggregate One
Million Two Hundred Thousand Dollars ($1, 200, 000. 00)
for the purpose of constructing, completing the construction
or aiding in construction, making additions and improve-
ments to and equipping, on sites now owned by the Board
of Education of Wicomico County and/or on any nearby
land hereafter acquired by said Board for that purpose,
two schools in Wicomico County, one in or near the Eastern
limits of the City of Salisbury in the vicinity of Long Ave-
nue and Mt. Hermon Road, and one in or near the Norths
ern limits of the City of Salisbury in the vicinity of Lake
Street.

SEC. 2. And be it further enacted, That the said bonds
shall be issued in the denomination of One Thousand Dol-
lars ($1, 000. 00), with coupons attached thereto for the
payment of interest thereon, semi-annually, until matur-
ity; said bonds shall be signed by the President of the
County Commissioners of Wicomico County and counter-
signed by the County Treasurer 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 litho-