THEODORE R. MCKELDIN, GOVERNOR 1201

eling and equipping of schools in Calvert County; and
providing for the levy of taxes in Calvert County for
the payment of principal and interest on such bonds,
and/or the pledging of the proceeds of the School Build-
ing Incentive Fund for such purposes.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Chapter 4 of the Acts of the General Assembly of
Maryland, passed at its Extraordinary Session held on
the seventeenth day of December, 1949, be and the same
is hereby repealed.

SEC. 2. And be it further enacted, That the County
Commissioners of Calvert County be and they are hereby
authorized and empowered to borrow at one time, or from
time to time, on the faith and credit of said County, a sum
or sums not exceeding in the aggregate Three Hundred
Thousand Dollars ($300, 000. 00), and to issue and sell
bonds therefor, the proceeds thereof to be used for the
purpose of defraying unpaid obligations incurred in the
construction, remodeling and altering and expanding facil-
ities of public schools in Calvert County, and/or repaying
to funds from which they were advanced amounts hereto-
fore expended for such purposes, and for the completion
of the construction, alteration, remodeling and equipping
of schools in Calvert County, and to pay all expenses,
including advertising, printing, and legal fees, incurred
in the issuance and sale of any bonds hereunder, the said
amount so borrowed to be used for no other purpose what-
soever.

SEC. 3. And be it further enacted, That said County
Commissioners shall by proper resolution fix the maturity
or maturities of any such bonds, provided, however, that
no bonds so issued shall mature later than thirty years
from the date of their issue, and provided further that
any such bonds shall he issued on the serial maturity plan;
such resolution may fix the denomination or denominations
in which said bonds shall be issued, the interest rate or
rates of said bonds or the manner of determining the
same, the manner and place of payment, the date, place
and terms of the sale of the bonds, and all details not herein
otherwise provided for with respect to the form, issuance
and sale thereof: said bonds shall be signed by the President
of the County Commissioners and by the Treasurer of
Calvert County, and the seal of said County shall be
affixed thereto. Said bonds may be made registerable as
to principal.