310                              LAWS OF MARYLAND                      [CH. 286

THIRTY Thousand Dollars ($1,190,000) ($1,130,000), upon the
faith and credit of said Howard County for the purposes of con-
structing and equipping a new high school, constructing a new
gymnasium and shop addition at the Clarksville School, acquisition
of three (3) elementary school sites, acquisition of two (2) junior
high school sites including one at Lisbon, A JUNIOR HIGH
SCHOOL SITE, construction and equipping of a multi-purpose
room at the St. Johns Lane School and constructing and equipping
a new elementary school, in said Howard County, and to issue bonds
therefor and to levy taxes to pay the principal and interest of
such bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Howard County, be, and they are
hereby authorized and empowered, in their discretion, to issue at one
time, or from time to time, upon the faith and credit of said County,
bonds in an amount or amounts not exceeding in the aggregate One
Million, One Hundred and Ninety THIRTY Thousand Dollars
($1,190,000) ($1,130,000), for the purposes of constructing and
equipping a new high school, constructing a new gymnasium and
shop addition at the Clarksville School, acquisition of three (3)
elementary school sites, acquisition of two (2) junior high school
sites including one at Lisbon, A JUNIOR HIGH SCHOOL SITE,
construction and equipping of a multi-purpose room at the St. Johns
Lane School and constructing and equipping a new elementary
school, in said Howard County.

Sec. 2. And be it further enacted, That the County Commissioners
of Howard County shall, when they exercise said discretion, by resolu-
tion, prescribe the form and tenor of said bonds, the method and
manner of offering the same for sale and the rate, of interest payable
thereon, or the method of arriving at such rate or rates of interest.
Said County Commissioners may fix said rate or rates of interest
in said resolution or may request bidders to name the rate or rates
of interest upon which their bids are based, and said County Com-
missioners may provide that different rates of interest may be named
for different serial maturities of said bonds or for different issues
thereof; provided, however, that under no circumstances shall any
such rate or rates of interest exceed five per centum (5%) per annum.
The resolution or resolutions authorizing the issue of all or any such
bonds shall also fix the date or dates of issue thereof and the terms
and place for payment of maturing principal and interest.

Sec. 3. And be it further enacted, That such bonds when issued
shall be signed by the Chairman of the Board of County Commis-
sioners and the corporate seal of the County Commissioners shall be
attached thereto by the clerk of said County Commissioners and the
interest coupons attached to each of said bonds shall bear the
facsimile signature of the Chairman of the Board of County Com-
missioners, printed, lithographed or engraved thereon.

Sec. 4. And be it further enacted, That any bonds authorized by
this Act shall be sold in the manner prescribed in Sections 10 and 11
of Article 31 of the Annotated Code of Maryland, 1957 Edition, and
amendments thereto.