Ch. 384

LAWS OF MARYLAND

SECTION 3. AND BE IT FURTHER ENACTED, That for the purpose
of paying the interest on the bonds, and for redeeming the same
as they mature and become payable, the County Commissioners of
Dorchester County shall levy annually a tax upon the assessable
property in Dorchester County sufficient to pay the annual
interest on the bonds and to redeem them as they become due,

until all of the bonds mature and are redeemed. The taxes so

levied shall be collected in the same manner as other taxes are
levied and collected in the County.

SECTION 4. AND BE IT FURTHER ENACTED, That out of the
actual cash proceeds from the sale of any of the bonds shall be
paid first the cost of printing and other outlays and expenses
and charges connected with their issue, and the entire balance of
the actual cash proceeds, together with any interest that may be
received on them, shall be retained by the County Treasurer of
Dorchester County until needed for the purposes specified as in
this Act.

SECTION 5. AND BE IT FURTHER ENACTED, That in the event
that any of the persons designated to sign the bonds are unable
for any reason to do so the County Commissioners by resolution
shall authorize their execution by some other member or officer,
and the execution shall be valid and sufficient for all purposes
as if the bonds had been executed by the person or persons
originally designated in this Act. Should any person signing the
bonds die or become incapacitated, or should the person cease to
be an officer or a commissioner, before the delivery of the
bonds, the signature nevertheless shall be valid and sufficient
for all purposes and equally shall be effective to bind the
County Commissioners of Dorchester County as if delivery had been
made before the death, incapacity, or expiration, or other
termination of the term of office.

SECTION 2. AND BE IT FURTHER ENACTED, That the bonds shall
be issued pursuant to a resolution of the County which shall
describe generally the school facilities for which the proceeds
of the bond sale are intended and the amount needed for those
purposes. The County shall have and is hereby granted full and
complete authority and discretion in the resolution to fix and
determine with respect to the bonds of any issue: the
designation, date of issue, denomination or denominations, form
or forms and tenor of the bonds; the rate or rates of interest
payable thereon, or the method of determining the same, which may
include a variable rate; the date or dates and amount or amounts
of maturity, which need not be in equal par amounts or in
consecutive annual installments, provided only that no bond of
any issue shall mature later than 30 years from the date of its
issue; the manner of selling the bonds, which may be at either
public or private sale, for such price or prices as may be
determined to be for the best interests of the County; the manner

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