1368                            LAWS OF MARYLAND                       CH. 688

(a)    in an amount not exceeding the sum of Five Million Dollars
($5,000,000) for the purposes defined in Section 1(a) of this Act;

(b)    in an amount not exceeding the sum of Two Million Dollars
($2,000,000) for the purposes defined in Section 1 (b) of this Act;

(c)    in an amount not exceeding the sum of Two Million Dollars
($2,000,000) for the purposes defined in Section 1(c) of this Act;

(d)    in an amount not exceeding the sum of Seven Hundred Fifty
Thousand Dollars ($750,000) for the purposes defined in Section 1(d)
of this Act.

(E) IN AN AMOUNT NOT EXCEEDING THE SUM OF TWO
MILLION FIVE HUNDRED THOUSAND DOLLARS ($2,500,000)
FOR THE PURPOSES DEFINED IN SECTION 1(E) OF THIS
ACT.

Sec. 3. And be it further enacted, That the County, shall evi-
dence the borrowing authorized by this Act 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 facilities, construction or acquisition become necessary, pro-
vided, however, that the total debt which may be incurred pursuant
to the authority of this Act shall not exceed Nine Million Seven
Hundred Fifty Thousand Dollars ($9,750,000) TWELVE MILLION
TWO HUNDRED FIFTY THOUSAND DOLLARS ($12,250,000).

Sec. 4. 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 facilities for which said borrowing or indebt-
edness is intended, the amount needed for said purposes in the ag-
gregate, and determining to borrow money or incur indebtedness for
all or a part of the amount so needed, and to issue its bonds to evi-
dence 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 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 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 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 deter-
mined by said resolution, and said bonds may, by said resolution, be
made redeemable before maturity, at the option of the County, at