820                               Laws of Maryland                        [Ch. 499

bonds shall mature in not more than twenty-five (25) years from

the date of issue, the rate of interest, or the manner of determining
the same when the bonds are offered for sale, the form of advertise-
ment, and all of the other details in connection therewith.

SEC. 3. And be it further enacted, That the Board of County

Commissioners for Caroline County is hereby directed to borrow
upon the faith and credit of said County from the "Caroline County
General Public School Construction Loan of 1957 1960" or by the

issuance of bonds an amount which when added to any other avail-

able State or Federal Funds shall equal Three Million Dollars ($3,

000,000.00); provided, that if said bonds shall be issued, they

be sold in accordance with the provisions of Article 31, Sections 34
to 36 of the Annotated Code of Maryland, as amended, on such terms
as the said Board of County Commissioners may determine, provided

that none of said bonds shall be sold at less than par and accrued

interest and the County Commissioners shall have the right to reject

any or all bids. Said bonds shall be signed by the President of the
Board of County Commissioners of Caroline County and shall be
countersigned by the Treasurer of said County, and the corporate
seal of the County shall be affixed thereto; the interest coupons on
said bonds shall be authenticated by the facsimile signature of the
President of said Board of County Commissioners, printed, en-
graved, or lithographed thereon. In case such bonds, or any of them,

shall be issued in any year after the making of the annual tax levy

for the year by the Board of County Commissioners, then said

Board is authorized and directed to pay any or all interest falling

due before the next tax levy out of any other funds at its disposal

and to include in the next levy the amount necessary to reimburse

such other funds. Should any of the persons designated to sign said

bonds to be unable for any reason to do so, the Board of County Com-

missioners shall by resolution authorize the execution thereof by
some other member or officer of said Board, and such execution shall
be valid and sufficient for all purposes as if the bonds had been exe-
cuted by the person or persons originally designated therein. Should
any person signing said bonds die or become incapacitated, or should

he cease to be an officer or a member of the Board, before the de-
livery of the bonds, such signature shall nevertheless be valid and
sufficient for all purposes and shall be equally effective to bind the
Board of County Commissioners of Caroline County as if delivery

had been made before such death, incapacity, or expiration, or other

termination of the term of office. All bonds issued under this Act

and the interest thereon shall be forever exempt from State, County,
and Municipal taxation in the State of Maryland.

SEC. 4. And be it further enacted, That for the purpose of pay-

ing the principal and interest on said bonds or other certificates of
indebtedness authorized under this Act, as they respectively mature
and become payable, the Board of County Commissioners of Caro-
line County shall levy annually on all the assessable property in
Caroline County a tax sufficient in rate and amount to pay the bonds

provisions thereof and to pay interest on all of the bonds and other
and other debt maturing during such year in accordance with the
debt authorized by this Act, which may be outstanding in such year,

and the proceeds of such levy, when collected, shall be used for the

purpose and for no other purpose than that for which such levy was

made. Said taxes shall be in addition to all other taxes authorized