724 LAWS OF MARYLAND. [CH. 293

graphed thereon. Said County Commissioners shall by
resolution determine the rate or rates of interest to be paid
on the bonds, not exceeding six per centum (6%) per an-
num, which rates may vary on the bonds of different
maturities, and the maturity or maturities of the bonds,
which shall be at a time or times not exceeding twenty five
(25) years from the date of the bonds, and shall likewise
determine the form of the bonds, the medium of payment,
and the place or places at which the principal and interest
shall be payable. In case any of the officers whose signa-
tures appear on the bonds and coupons shall cease to be
such officers before the delivery of such bonds, such signa-
tures shall nevertheless be valid and sufficient for all pur-
poses, as if they had remained in office until such delivery.
The bonds may be made registerable as to principal only,
under such terms and conditions as may be determined by
said County Commissioners.

SEC. 3. And be it further enacted, That the County Com-
missioners of Wicomico County shall advertise the said
bonds in at least two newspapers published in Wicomico
County, Maryland, and by such other advertisement as may
to them seem proper and advisable, inviting sealed pro-
posals for the purchase of said bonds or any part thereof
with the privilege of rejecting any or all bids, and no bid
shall be accepted at less than par and accrued interest;
the entire issue of bonds may be offered at one time, or they
may be offered in varying amounts at different intervals,
as may seem most advantageous to the Board of Education
of Wicomico County in constructing, completing the con-
struction, or aiding in construction, making additions and
improvements to and equipment of the schools for the erec-
tion of which the proceeds of said bonds are to be used; and
no part of the money arising from the sale of said bonds
shall be used except for the purposes designated and pro-
vided for in this Act, except that any accrued interest shall
be set aside in a separate interest fund and be devoted to
the payment of the first maturing coupons, and provided
further, that the cost of engraving or printing of said
bonds and the cost of advertising authorized by this Act,
and any other expenses incidental to the issuance and sale
of said bonds, may be paid out of said funds.

SEC. 4. And be it further enacted, That the proceeds
arising from the sale of said bonds shall be paid over to
the Treasurer of Wicomico County, and credited by him
to the Board of Education of Wicomico County, to be used
in the discretion of the members of said Board of Educa-
tion and 'under their supervision and direction for building