780                               LAWS OF MARYLAND                       [CH. 565

for public parks, playgrounds, recreation areas within said County
in the Mattawoman Watershed, as defined in Section One (1) of this
Act, for the use of the Board of County Commissioners 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 Eight Hundred Thousand Dollars
($800,000.00) 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
conditions hereinafter set forth. Such bonds may be issued from
time to time, in one or more groups or series, as funds for such
purchase of land to be used for public parks, playgrounds, recreation
areas within said County in the Mattawoman Watershed, as defined
in Section One (1) of this Act, provided, however, that the total debt
which may be incurred pursuant to the authority of this Act shall
not exceed Eight Hundred Thousand Dollars ($800,000.00).

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 purchase of land to be used for public parks, play-
grounds, recreation areas within said County in the Mattawoman
Watershed 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 indebt-
edness. 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 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 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 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