2020 LAWS OF MARYLAND. [CH. 835

CHAPTER 835.

(House Bill 733)

AN ACT to authorize and empower the County Commissioners
of Montgomery County to acquire sites for and to purchase,
improve, alter, enlarge, construct and equip school build-
ings and other educational facilities; to acquire rights of
way and to construct, improve, extend and replace county
roads, streets, highways, culverts, viaducts and bridges; to
acquire sites for and to purchase, enlarge, alter, replace
and construct county public buildings; to authorize and
empower the County Commissioners of Montgomery County
to borrow money at any time or from time to time prior
to December 31, 1948, in an aggregate amoiint not to ex-
ceed seven million dollars ($7,000.000.00), of which amount
not more than five million dollars ($5,000,000.00) shall be
used for school purposes, not more than one million five
hundred thousand dollars ($1,500,000.00) for roads, streets,
highways, culverts, viaducts and bridges, and not more than
five hundred thousand dollars ($500,000.00) for other pur-
poses authorized by this Act and to evidence all such bor-
rowing by serial bonds of Montgomery County issued upon
the security of the full faith and credit of Montgomery
County; exempting any bonds issued hereunder from the
provisions of Section 224, of Article 16, of the Code of
Public Local Laws of Maryland and from the provisions
of Article 31, Sections 34, 35 and 36 of the Annotated Code
of Maryland (1939 Edition) ; empowering said County in
the discretion of the County Commissioners to fix and de-
termine by resolution the form, tenor, interest rate, not
to exceed four per cent (4%) and method of arriving at
the same, method and manner of sale, terms including regis-
tration provisions, conditions, maturities not to exceed
thirty years and all other details necessary or incident to
the issuance, sale, delivery and payment of said bonds with-
out reference to any other law heretofore enacted; em-
powering said County, subject to certain limitations to sell
said bonds at public or private sale with or without refer-
endum at not less than par value thereof; empowering said
County to levy unlimited ad valorem taxes for the payment
of the principal and interest on any bonds issued hereunder;
exempting from State, County and Municipal taxation all
bonds issued hereunder and the interest thereon and all in-
come derived therefrom in the hands of the holders thereof
from time to time.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That in addition to its corporate powers heretofore