WM. PRESTON LANE, JR., GOVERNOR. 1413

upon the faith and credit of Garrett County a sum of
money not to extend one million five hundred thousand
dollars ($1,500,000) at a rate of interest not to exceed
three per cent, and to issue notes and/or bonds there-
for, for the purpose of acquiring sites, erecting and
equipping school buildings and building additions to ex-
isting school buildings, and equipping same; providing
for the appointment of advisory committees; providing
for the levying of taxes by said County Commissioners
to repay the loan and interest thereon, and providing
that said loan and every part thereof and the interest
payable thereon, shall remain exempt from State, Coun-
ty and municipal taxation; repealing Chapter 790 of the
Acts of 1945, and providing for the use of funds levied
and collected under said Act.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Garrett County be and
they are hereby authorized and empowered and directed
to borrow at such time or times as they may decide, upon
the faith and credit of Garrett County, a sum or sums of
money not to exceed one million five hundred thousand dol-
lars ($1,500,000), at a rate of interest not to exceed three
per cent. (3%) per annum, for the purpose of erecting
new school buildings, purchase of land for said buildings,
architect and other professional fees in connection with
said buildings, alterations of existing school buildings, and
equipping said school buildings in Garrett County.

SEC. 2. And be it further enacted, That the said Coun-
ty Commissioners are hereby authorized to borrow, under
the provisions of this Act, from such bank, banker or trust
company, or from any other source, as they shall from
time to time select. The said County Commissioners are
authorized to execute and deliver negotiable promissory
notes, certificates of indebtedness, or bonds of the County
Commissioners of Garrett County, to be signed by the
President of said County Commissioners and the Treasurer
of Garrett County, with the seal of the said County affixed
thereto, in such denomination or denominations, payable
at such place and at such date or dates as the said County
Commissioners shall by resolution provide and/or to issue
and sell said notes, certificates of indebtedness, or bonds
upon the faith and credit of the County in such amount
or amounts as said Commissioners shall determine, but the
total amount of such notes and bonds issued under this Act
shall not exceed $1,500,000. The said notes, certificates of
indebtedness and/or bonds shall bear interest at such rate