WILLIAM DONALD SCHAEFER, Governor                   Ch. 384

amounts and at such times as the County Commissioners may
designate, for the improvement, maintenance, repair, and
equipping of public schools in Dorchester County;
authorizing the County Commissioners of Dorchester County to
levy taxes on the assessable property in the County to
provide funds for the payment of interest and principal as
the same become payable; and generally relating to the issue
and sale of such bonds.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Dorchester County are
authorized and empowered to borrow at one time or from time to
time, upon the full faith and credit of Dorchester County, and to
issue and sell at one time or from time to time its bonds
therefor, a sum or sums of money not to exceed $2,000,000 for the
improvement, maintenance, repair, and equipping of public schools
in Dorchester County, including as to each architects and other
professional fees in connection therewith. The money raised by
the bond issue authorized by this Act shall be expended for the
above purposes and shall be allotted among such purposes as the
County Commissioners of Dorchester County may provide. The bonds
shall be designated, shall be of such denomination or
denominations and of such type or form, and shall be of such
periods of maturity, not exceeding 25 30 years, all as the County
Commissioners of Dorchester County may by resolution provide.
However, the first maturity shall be within 5 years of the date
of the bonds, and the proceeds of the sale or sales shall be
spent in accordance with the provisions of this Act. The
borrowing and every bond, coupon or other evidence thereof, and
the interest payable thereon, shall be and remain exempt from
taxation by the State of Maryland and by the counties and
municipalities of the State.

SECTION 2. AND BE IT FURTHER ENACTED, That the bonds shall
be signed by the President of the County Commissioners of
Dorchester County and by the Treasurer of Dorchester County, with
the seal of Dorchester County or a facsimile of it affixed
thereto. The bonds shall be payable at the place and on the date
or dates the County Commissioners shall provide by resolution.
The bonds shall bear interest at a rate or rates as provided by
resolution of the County Commissioners, and installments of
interest may be evidenced by semiannual coupons attached to the
bonds bearing the facsimile signature of the Treasurer of
Dorchester County. If the bonds are issued, the issue and sale
shall be in accordance with the provisions of Section 22 of
Article 31 of the Annotated Code of Maryland (1986 Replacement
Volume, as amended from time to time) and Sections 8-117 through
8-131 and 8-134 of the State Finance and Procurement Article of
the Annotated Code of Maryland (1985 Volume and 1986 Supplement,
as amended from time to time).

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