1290                           LAWS OF MARYLAND                       CH. 644

from time to time, in an amount not exceeding the sum of Thirty
Million Dollars ($30,000,000) 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 pursuant to the
authority of this Act shall not exceed Thirty Million Dollars
($30,000,000).

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 for which
said borrowing or indebtedness is intended, the amount needed for
said purposes, and determining to borrow money or incur indebted-
ness 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 series 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 in-
stallments. 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 neces-
sary 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 redeem-
able 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 Mary-
land. In case any officer whose signature shall appear on any such
bond, or on the coupons attached thereto, shall cease to be such
officer before the delivery thereof, such signature shall neverthe-
less be valid and sufficient for all purposes the same as if he had
remained in office until such delivery. Said bonds may, by any such
resolution, be issued in coupon or in registered form or both, and
provision may be made for the registration of said bonds having
coupons attached, as to principal alone and also as to both principal