J. MILLARD TAWES, GOVERNOR                          1041

to exercise the authority conferred by this Act, it shall set forth
in the resolution authorizing any bonds to be issued hereunder the
program of the Board, or the part thereof, to be financed, in whole
or in part, from the proceeds of such bonds. Accordingly, the Board
shall make no commitments for the provision of public schools, as
defined in Section 1 of this Act, without the prior approval of the
County, until the action outlined in this Section shall have been
taken by the County and the Board.

Sec. 4. And be it further enacted, That each group of bonds issued
by the County under this Act shall be authorized by separate resolu-
tion of the County which shall prescribe the form and tenor of any
such bonds, the rate or rates of interest payable thereon, or the
method of arriving at the same, the date or dates upon which any
such bonds shall respectively mature and be payable, the manner
of selling said bonds at public sale, and generally all matters incident
or necessary to the issuance, sale and delivery thereof. Any bonds
or group of bonds so authorized shall mature and be payable in
annual serial instalments, the last of which shall be not later than
twenty-five (25) years from the date of issue of any such bonds or
group thereof, but such serial instalments need not be equal or con-
secutive, but shall be so arranged as to fit into the general financial
plans of the County. None of said bonds so authorized and issued
shall bear interest at a rate exceeding five per centum (5%) per
annum, payable semi-annually until maturity. Any such bonds may
be made redeemable before maturity, at the option of the County,
at such price or prices, with such premium or premiums and under
such terms and conditions as may be fixed by the County in the
resolution authorizing such bonds. Said resolution or resolutions
map authorize the issuance of said bonds in coupon or registered
form, or both, and in such denomination or denominations as the
County may decide upon and the principal of and interest on said
bonds may be made payable in any lawful medium at any bank
or trust company within or without the State of Maryland, or at the
office of the County, as shall be specified in said resolution. Said
bonds shall be executed on behalf of the County by the President
of the Board of County Commissioners and the seal of the County
shall be affixed thereto attested by the County Clerk. Any coupons
attached to said bonds shall be authenticated by the signature of
said President. The execution of said bonds and coupons may be
by facsimile signature of said President and a facsimile of the
County seal may be imprinted on said bonds, but all of said bonds
shall be manually signed by said County Clerk. There may be im-
printed on each of said bonds all or part of the opinion of counsel
approving the legal validity thereof and the text of such opinion,
or portion thereof, may be certified by the manual or facsimile
signature of said County Clerk or of an authorized officer of the
bank or trust company at which said bonds may be made payable
all as provided in the resolution or resolutions authorizing said
bonds. In case any officer whose signature shall appear on any such
bond or bonds or on the coupons attached thereto shall cease to be
such officer before the delivery thereof, or shall become such officer
after the date of issue thereof, such signature shall nevertheless be
valid and sufficient for all purposes.