WM. PRESTON LANE, JR., GOVERNOR. 407

authorized to be refunded; to exempt the said bonds from
the provisions of Sections 34, 35 and 36 of Article 31 of the
Code of Public General Laws of Maryland, 1939 Edition,
and to exempt them from State, County and Municipal
taxation in the State of Maryland and to provide for the
payment of such refunding bonds by the levy of an ad
valorem tax upon all property subject to general taxation
in Montgomery County.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Board of County Commissioners of Montgomery
County be and the same Board is hereby authorized and em-
powered to issue at one time or from time to time serial re-
funding bonds of said county in an aggregate amount not ex-
ceeding One Million Nine Hundred Seventy Thousand Five
Hundred Dollars ($1,970,500.00) for the purpose of refunding
a like amount of outstanding bonds and certificates of indebt-
edness of the county maturing between June 1, 1947, and June
30, 1949, both inclusive, and described as follows:

1. $1,000.00 Rockville and Bethesda Turnpike Bonds, dated
January 1, 1899, issued under authority of Chapter 257 of the
Acts of 1898. and maturing $500.00 on January 1, 1948, and
$500.00 on January 1, 1949.

2. $4,000.00 Public School Bonds, dated July 1, 1922, issued
under authority of Chapter 255, Acts of 1922, and maturing
$2,000.00 July 1, 1947, and $2,000.00 on July 1, 1948.

3. $4,000.00 Road Repair Bonds, dated July 1, 1922, issued
under authority of Chapter 261, Acts of 1922, and maturing
$2,000.00 on July 1, 1947, and $2,000.00 on July 1, 1948.

4. $1.000.00 Potomac Road Bonds, dated July 1, 1922, issued
under authority of Chapter 404, Acts of 1922, and maturing
$1,000.00 on July 1, 19,47.

5. $40.000.00 Montgomery County Road Construction Fund-
ing Bonds of 1929, issued under authority of Chapter 347,
Acts of 1929, and maturing $20,000.00 on July 1, 1947, and
$20,000.00 on July 1, 1948.

6. $1.000.00 Rockville Highway Bonds of 1918, dated July
1, 1919. issued under authority of Chapter 496, Acts of 1918,
and maturing $1.000.00 on July 1, 1947.

7. $20,000.00 Dispensary System Bonds, dated January 1,
1934, issued under authority of Chapter 2, Acts of 1933. and
maturing $10.000.00 on January 1, 1948. and $10,000.00 on
January 1, 1949.