J. MILLARD TAWES, Governor                        71

missioners of Worcester County and the Board of Education of
Worcester County; providing for the execution of all contracts
for said projects jointly by the County Commissioners of Worces-
ter County and the Board of Education of Worcester County.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Worcester County be and they
are hereby authorized and empowered to issue at one time or from
time to time, upon the full faith and credit of said County, serial
maturity coupon bonds in an amount or amounts not exceeding in
the aggregate Two Million Dollars ($2,000,000.00) for the purpose
of constructing or aiding in the construction, and equipping, on sites
now owned by the Board of Education of Worcester County and/or
on any land in Worcester County hereafter acquired by said Board
for that purpose from the proceeds of said bonds, new school build-
ings in Worcester County.

Sec. 2. And be it further enacted, That any bonds issued under
the provisions of this Act shall be coupon form, but may be made
registerable as to principal, shall be issued on the serial maturity
plan, and shall be known as "Public School Bonds of Worcester
County of 1966", inserting the year of issue; the Board of County
Commissioners shall by resolution adopt the form of said bonds,
fixing the date of issue, the denomination, place of payment, the
maturities, provided that none of said bonds shall mature more than
twenty-five (25) years from the date of issue, the rate or rates of
interest, not to exceed four per centum (4%) per annum, or the
manner of determining the same when the bonds are offered for
sale, the form of advertisement and all of the other details in con-
nection therewith.

Sec. 3. And be it further enacted, That said bonds may be sold
at one time or from time to time in such amount as may be deter-
mined by the Board of County Commissioners of Worcester County,
provided that the total principal amount of bonds issued hereunder
shall not exceed in the aggregate Two Million Dollars ($2,000,000.00);
they shall be sold in accordance with the provisions of Article 31,
Sections 9 to 11, inclusive, of the Annotated Code of Maryland (1957
Edition), on such terms as the Board of County Commissioners of
Worcester County may determine, provided that none of said bonds
shall be sold at less than par and accrued interest, and the County
Commissioners may reserve the right to reject any or all bids. Said
bonds shall be signed by the President of the Board of County Com-
missioners of Worcester County and shall be countersigned by the
Treasurer of said County and the corporate seal of the County shall
be affixed thereto; the interest coupons on said bonds shall be authen-
ticated by the facsimile signature of the President of said Board
of County Commissioners, printed, engraved, or lithographed thereon.
In case such bonds, or any of them, shall be issued in any year after
the making of the annual tax levy for the year by the Board of
County Commissioners, then said Board is authorized and directed
to pay any or all interest falling due before the next tax levy out of
any other funds at its disposal and to include in the next levy the
amount necessary to reimburse such other funds. Should any of the
persons designated to sign said bonds be unable for any reason to
do so, the Board of County Commissioners shall by resolution au-