88                               LAWS OF MARYLAND                        [CH. 64

the payment of said maturing principal and interest; exempting
said bonds and said refunding bonds and the interest thereon from
all State, county and municipal taxation in the State of Maryland.

Section 1. Be it enacted by the General Assembly of Maryland,
That as used herein, the term "County" shall mean the body politic
and corporate of the State of Maryland known as the County Com-
missioners for Kent County, and the term "public schools" shall in-
clude the construction, reconstruction, improvements, extension, ac-
quisition, alteration, repair and modernization of public school build-
ings or buildings for school purposes in Kent County, including sites
therefor, the cost of acquiring any such sites, architectural and engi-
neering services, including preparation of plans, drawings and speci-
fications for such schools and the development of the grounds and
landscaping thereof, and all customary permanent appurtenances and
recreational and pedagogical equipment for such schools.

Sec. 2. And be it further enacted, That, the County is hereby
authorized and empowered to finance the construction of public
schools, as defined in Section 1 of this Act, for the use of the Board
of Education of Kent 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 one million, two hundred
fifty thousand dollars ($1,250,000) 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 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 construction or acquisition become necessary,
provided, however, that the total debt which may be incurred pursu-
ant to the authority of this Act shall not exceed one million, two
hundred fifty thousand dollars ($1,250,000).

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 bor-
rowing 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 r>ar amounts or in consecutive annual installments. Sub-
ject 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