HARRY W. NICE, GOVERNOR. 285

thereon, shall remain exempt from State. County and muni-
cipal taxation.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That four new seel ions be added to Article 13 of the Code
of Public Local Laws of. Maryland (1930 Edition), title "Har-
ford County", sub-title "County Commissioners", to follow
Section 234D of said Article, to he known as Sections 234E
234F, 234G and 234H and to read as follows:

234E The County Commissioners of Harford County he
and they are hereby authorized and empowered to borrow
from time to time upon the faith and credit of Harford
County a sum or sums of money not to exceed one hundred
thousand dollars ($100, 000. 00), and at a rate of interest not to
exceed three per cent (3%) per annum, for the purpose of
building (wo new school houses in said County in or near the
villages of Darlington and Forest Hill.

254F. The said County Commissioners are hereby author-
ized 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 Com-
missioners are authorized to execute and deliver (he negotiable
promissory note or notes of the County Commissioners of
Harford County, to he signed by the president of the said
County Commissioners and the Treasurer of Harford County,
with the seal of the said County affixed thereto, in such de-
nomination or denominations, payable at such place and at
such dale or dates as the said County Commissioners shall by
resolution provide. The said notes shall bear interest at such
rate or rates, not exceeding 3% per annum, as shall be pro-
vided by resolution of the County Commissioners, such in-
terest to be evidenced by semi-annual coupons attached to the
said notes and bearing the facsimile signature of the Treasurer
of Harford County. Said County Commissioners are author-
ized to borrow under the provisions of this Act by selling the
negotiable promissory notes herein authorized, with coupons
attached, al a discount less than the principal amount thereof,
provided that the coupon interest, together with any such dis-
count, shall not exceed 3% per annum on the principal of said
loan. rl he said loan and every part thereof and every note,
coupon or other evidence thereof, and the interest payable
thereon, shall be and remain exempt from State. County and
municipal taxation.

234G. The proceeds derived from said loan shall bo placed
in a special fund by the County Treasurer, and shall be paid
nut by him only on warrants from the County Commissioners,