Marvin Mandel, Governor                           685

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 of Frederick County, and the term "public schools" shall
include the construction, reconstruction, improvement, extensions,
acquisition, alteration, repair and modernization of public school
buildings or buildings for school purposes in Frederick County, in-
cluding sites therefor, the cost of acquiring any such site, architec-
tural and engineering services, including the preparation of plans,
drawings and specifications 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 Frederick County and, in order to make such financ-
ing 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 Four Million
Five Hundred Thousand Dollars ($4,500,000.00) 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 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 Four Million Five Hundred Thousand Dollars
($4,500,000.00).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations, the County shall, before borrowing any money or issu-
ing any bonds pursuant to the authority of this Act, adopt a resolu-
tion describing the public school or schools for which said borrowing
or indebtedness is intended, the amount needed for said purposes in
the aggregate, 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 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