636                               LAWS OF MARYLAND                        [CH. 373

SECTION 1. Be it enacted by the General Assembly of Maryland,
That whenever the Board of Education of Prince George's County
shall think it advisable to build and equip neio schoolhouses, or con-
struct an addition or additions to existing schoolhouse or school-
houses at a location or locations to be determined, including the
purchase of land, if necessary, or to match Federal funds for the
aforesaid purposes, it may by resolution request the Board of County
Commissioners of said County to authorize the Board of Education
of Prince George's County to issue bonds and to pay for the same,
said bonds to be guaranteed as to payment of principal and interest
by the Board of County Commissioners of Prince George's County,
on the full faith and credit of said County, and if the Board of County
Commissioners of said County concur in the advisability of issuing
such bonds for the purpose, or purposes, indicated in such resolution,
they may by their resolution order that the same shall be issued as
hereinafter provided, but the total amount of bonds issued from time
to time hereunder shall not exceed the sum of Ten Million Dollars
($10,000,000.00) and the proceeds shall be spent in accordance with
the provisions hereof.

SEC. 2. And be it further enacted, That such bonds shall have
semi-annual interest coupons attached and shall be issued on the
serial maturity plan and shall be known as "Prince George's County

Public School Bonds of................", inserting the year of issue. The

Board of County Commissioners in the aforesaid resolution shall fix
the date of issue; determine the denomination of the bonds; fix the
amount to be paid each year, provided that no series shall mature more
than twenty-five (25) years from the date of issue; and fix the rate
of interest to be paid on said bonds or designate how the rate of
interest may be determined when said bonds are offered for sale,
provided said interest rate shall not exceed five per cent (5%) per
annum, and determine other details regarding the form of said bonds.

SEC. 3. And be it further enacted, That when the Board of County
Commissioners of Prince George's County shall have authorized the
issuance of said bonds and when the Board of Education of Prince
George's County shall have received from the Board of County Com-
missioners a certified copy of its resolution, or resolutions, as pro-
vided in Sections 1 and 2 hereof, and not before, the said Board of
Education shall be authorized to borrow, on endorsement of the Board
of County Commissioners of Prince George's County, ivhich is hereby
directed to endorse such bonds on the faith and credit of said County,
such amount or amounts as the Board of County Commissioners shall
have authorized within the limitations hereinbefore set forth.

SEC. 4. And be it further enacted, That the Board of Education
shall be empowered to sell said bonds or any part thereof, from time
to time, authorized in the above resolution by sealed bids at the offer
which in the discretion of said Board is most advantageous to the
County, after having given such public notice as it may deem proper
of the time, place, manner and terms of sale, right being reserved to
reject any or all bids. Said bonds shall not be sold except for cash,
nor for less than par, and when issued shall be exempt from State,
County and municipal taxation. Said bonds shall be signed by the
President of said Board of Education of Prince George's County and
countersigned by the County Superintendent of Schools and endorsed