THEODORE R. MCKELDIN, GOVERNOR 419
County are hereby authorized and directed to borrow upon

the faith and credit of the County, within six years of the
effective date of this Act, the amount of Six Million Dol-
lars ($6, 000, 000) for the purposes specified in this Act and

to issue and sell coupon bonds in that amount; provided

that no more than One Million Five Hundred Thousand

Dollars ($1, 500, 000) worth of bonds shall be issued in

any one year. COUNTY ARE HEREBY AUTHORIZED
AND EMPOWERED TO BORROW UPON THE FAITH
AND CREDIT OF THE COUNTY, FROM TIME TO
TIME, AS THE COUNTY COMMISSIONERS MAY DE-
CIDE, THE AMOUNT OF $3, 500, 000. FOR THE PUR-
POSES SPECIFIED IN THIS ACT AND TO ISSUE
AND SELL COUPON BONDS IN THAT AMOUNT.

(b) The County Commissioners of Allegany County
shall, by resolution, prescribe the form and tenor of such
bonds; the rate of interest not exceeding five per cent (5%)
per annum to be paid thereon; the date of issue; and the
time and place at which interest is to be paid. Such bonds
shall be in coupon form, shall be in denominations of One
Hundred THOUSAND Dollars ($100. 00) ($1, 000. 00)
or any multiple thereof and may be made registerable as
to principal. Such bonds shall be issued upon the serial
maturity plan in such manner that bonds in the amount
of at least Eighty Thousand Dollars ($80, 000) shall mature
and become payable at the end BONDS IN AN AMOUNT
TO BE DETERMINED BY THE COUNTY COMMIS-
SIONERS SHALL MATURE AND BECOME PAYABLE
AT THE END of each year thereafter until all the bonds
have been paid and retired.

(c) Such bonds when issued shall be signed by the Presi-
dent of the County Commissioners of Allegany County and
the corporate seal of the County Commissioners shall be
attached thereto by the Clerk of the County Commis-
sioners, and the interest coupons attached to each of said
bonds shall bear the facsimile signature of the President
of the County Commissioners printed, lithographed or en-
graved thereon.

SEC. 2. And be it further enacted, That the bonds au-
thorized by this Act shall be sold in the manner prescribed
by Section 33 of Article 31 of the Annotated Code of Mary-
land (1951 Edition).

Sec. 3. And be it further enacted, That the entire pro-

ceeds from the sale of such bonds after payment of costs

of engraving and all other incidental costs and expenses
connected with the issuance of the bonds shall be paid over