The County Council may borrow money upon the faith and credit of the County as provided in this chapter for the purpose of acquiring land and property for the establishment of an incineration and garbage disposal plant or plants and for the construction of such a plant or plants in the County and for the purpose of securing the payment of such sum to issue bonds in such denominations and bearing such rate of interest, not exceeding 5 percent per annum, and in such form as the County Council shall deem expedient. The interest upon said bonds shall be payable semiannually in each and every year after the date of issuance thereof.