J. MILLARD TAWES, Governor                      341

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction of public
schools and Community Colleges, as defined in Section 1 of this Act,
for the use of the Board of Education of Harford 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 Six Million Dollars ($6,000,000) and to evidence such borrow-
ing 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 conditions 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 and Community College construction or acqui-
sition become necessary, provided, however, that the total debt
which may be incurred pursuant to the authority of this Act shall
not exceed Six Million Dollars ($6,000,000).

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 generally by classes the public school or schools and the
Community College or Colleges for which said borrowing or indebted-
ness is intended, the amount needed for said purposes, and determin-
ing 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 installment 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 installments. Subject to the limita-
tions 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 thereon, or the method of arriving at the
same, the date or dates upon which said 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. 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 determined 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,