952                              Laws of Maryland                       [Ch. 634

schools, as defined in Section 1 of this Act, for the use of the Board
of Education of Prince George's County and, in order to make such
financing possible, said County is hereby granted the power and
authority to borrow money and incur indebtedness for such purpose,
from time to time, in an amount not exceeding the sum of Ten Million
Dollars ($10,000,000) and to evidence such borrowing by the issuance
and sale upon its full faith and credit of its serial maturity, general
obligation coupon bonds in like par amount, upon the terms and con-
ditions hereinafter set forth. Such bonds may be issued from time
to time, in one or more groups or series, as funds for such public
school construction or acquisition become necessary, provided, how-
ever, that the total debt whch WHICH may be incurred pursuant to
the authority of this Act shall not exceed Ten Million Dollars
($10,000,000).

SEC. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolution
describing the public school or schools for which said borrowing or
indebtedness is intended, the amount needed for said purposes, and
determining to borrow money or incur indebtedness for all or a part
of the amount so needed, and to issue its bonds to evidence such
borrowing or indebtedness. Each series or group of said bonds
shall be issued to mature in annual serial installments, the last in-
stallment to mature not later than thirty (30) years from the date
of issue of said group or series. In said resolution, said County
shall fix the annual serial maturity plan with respect to the bonds
to be issued thereunder and said annual serial maturities shall be
so fixed as to conform to the general financial plans of the County
but need not be in equal par amounts or in consecutive annual in-
stallments. Subject to the limitations herein contained, said County
shall have and is hereby granted full and complete authority and
discretion to fix and determine, in said resolution, the form and
tenor of any such bonds, the rate or rates of interest payable there-
on, or the method of arriving at the same, the date or dates upon
which said bonds shall respectively mature and be payable, the man-
ner of selling said bonds at public sale, and generally all matters
incident or necessary to the issuance, sale and delivery thereof. The
bonds of each such issue shall be dated, shall bear interest at such
rate or rates not exceeding six per centum (6%) per annum, payable
semi-annually, shall mature at such time or times as may be de-
termined by said resolution, and said bonds may, by said resolution
be made redeemable before maturity, at the option of the County,
at such price or prices and under such terms and conditions as may
be fixed by said County, either in said resolution or in subsequent
resolutions, but prior to the issuance of said bonds. The principal
of and the interest on said bonds may be made payable in any lawful
medium. Said resolution shall determine the form of said bonds,
including any interest coupons to be attached thereto, and the
manner of executing and sealing the same, which may be by facsimile,
and shall fix the denomination or denominations of the bonds and the
place or places of payment of the principal and the interest thereon,
which may be at any bank or trust company within or without the
State of Maryland. In case any officer whose signature shall appear
on any such bond, or on the coupons attached thereto, shall cease
to be such officer before the delivery thereof, such signature shall
nevertheless be valid and sufficient for all purposes the same as if