274                              Laws of Maryland                       [Ch. 215

able, as to principal only, under such terms and conditions as may be
determined by said County Commissioners.

Sec. 3. And be it further enacted, That the County Commis-
sioners of Wicomico County shall advertise the sale of said bonds in
at least one newspaper published in Wicomico County, Maryland,
once a week for at least two successive weeks prior to the date of
their sale, said sale to take place not sooner than ten days after the
insertion of the first advertisement, and by such other advertisement
as may to it seem proper and advisable, inviting sealed proposals for
the purchase of said bonds or any part thereof with the privilege of
rejecting any or all bids, and no bid shall be accepted at less than par
and accrued interest; the entire issue of bonds may be offered at one
time or they may be offered in varying amounts at different intervals,
as may seem most advantageous to the County Commissioners of Wi-
comico County and the Board of Education of Wicomico County in
construction, erecting, completing the construction, or aiding in con-
struction, making additional and improvements to and equipment of
schools for the erection of which the proceeds of said bonds are to be
used; and no part of the money arising from the sale of said bonds
shall be used except for the purposes designated and provided for in
this Act, except that any accrued interest and premium shall be set
aside in a separate interest fund and be devoted to the payment of the
first maturing coupons, and provided further, that the cost of engrav-
ing or printing of said bonds and the cost of advertising authorized
by this Act, and any other expenses incidental to the issuance and
sale of said bonds, may be paid out of said funds; and provided
further, that should there remain any balance of the proceeds of the
sale of the bonds hereby authorized to be sold, after the full and com-
plete accomplishment of the purposes herein set forth, such balance
may in the joint discretion of said Boards, be held as a reserve fund
to be applied toward the payment of the principal of maturing bonds
issued under the provisions of this Act.

Sec. 4. And be it further enacted, That the proceeds arising
from the sale of said bonds shall be paid over to the Treasurer of
Wicomico County, and credited by him to the County Commissioners
of Wicomico County and the Board of Education of Wicomico County,
to be used in the joint discretion of the members of said County
Commissioners and the Board of Education and under their joint
supervision and direction, and subject to their joint order, for build-
ing or aiding in building, making additions and improvements to
and equipping the aforesaid school buildings. Said County Commis-
sioners and Board of Education shall have full joint authority to
contract for, supervise, direct and control such work in such manner
as in their discretion they may deem to the best public interest, and
full power is given to them to employ and pay out of the said funds
all builders, or other persons, supervisors or agents, as to them may
seem advisable and necessary, and to pay out of the said funds all
architects employed by the said Board of Education; and they shall
divide and allot said funds to said buildings and equipment, but not
exceeding the amounts allotted or specified for each except as to
the use of said contingency fund of Forty Eight Thousand Dollars
($48,000.00), and other funds provided therefor under Section 1
of this Act as well as other unencumbered funds that may be avail-
able to the County Commissioners of Wicomico County and/or the
Board of Education of Wicomico County for such capital improve-