756 LAWS OF MARYLAND. [CH. 434

negotiable promissory notes maturing within not more than
twenty-four (24) months from their date or dates of issue;
authorizing and directing the County Commissioners of Anne
Arundel County to guarantee the payment of principal and
interest on such notes; enabling said Board of Education
to borrow such money and issue its notes from any bank
or banker without prior publication or solicitation of com-
petitive bids; providing for the renewal or refunding from
time to time of any such notes and for the expenditure
of the money so borrowed; authorizing and directing the
County Commissioners of Anne Arundel County to levy
sufficient taxes to pay the principal and interest of said
notes at maturity; and exempting the authority hereby
granted from the provisions of Chapter 185 of the Acts of
the General Assembly of Maryland, passed at its January
Session in the year 1939, as amended by Chapter 612 of
the Acts of the General Assembly of Maryland, passed at
its January Session in the year 1943.

WHEREAS, it will shortly become necessary to provide sub-
stantial additions to the total public school facilities in Anne
Arundel County due to the recent and anticipated extra-
ordinary population growth in said County and also due to
the State's program for a twelve year school term which
will shortly become effective; and

WHEREAS, it is desirable that, to the maximum extent
possible, the construction of said public school facilities be
financed by short term borrowing in order to conform to the
policy of the County Commissioners of Anne Arundel County
to avoid incurring further long term debt; now, therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That, for the purposes above mentioned, the Board of
Education of Anne Arundel County, a public body corporate of
the State of Maryland, is hereby authorized and empowered, at
one time and from time to time until June 1, 1952, to borrow
on the faith and credit of the County Commissioners of Anne
Arundel County a sum or sums of money not exceeding Two
Million Five Hundred Thousand Dollars ($2,500,000.00) in the
aggregate, and to evidence such borrowing by issuance to the
lender or lenders of its promissory note or notes, guaranteed
as to payment of principal and interest by the County Commis-
sioners of Anne Arundel County, in the manner hereinafter pre-
scribed. This authority shall be a continuing one, not exhausted
in whole or in part, in the exercise thereof, provided, however,
that at no time shall the aggregate principal debt outstanding
hereunder exceed the limitation above prescribed, and pro-
vided further that all notes issued hereunder shall be made