ALBERT C. RITCHIE, GOVERNOR. 259

county, municipal or public corporation, special district
and/or political sub-division of this State maturing before
June 1, 1935, by taxation or otherwise, provision for the
payment of which by borrowed money is temporarily made
under this Act; and provided further that the proceeds of
any general or special levy imposed by law for the purpose
of providing funds for the payment of any such obliga-
tions evidenced by coupon bonds or notes, may, upon the
receipt thereof, be applied to the payment of notes issued
under the provisions of this Act, or in the event the same
become available after such notes are paid, then to the
general funds of such county, municipal or public corpora-
tion, special district and/or political sub-division of this
State so issuing such notes under the provisions of this Act.

SEC. 4. And be it further enacted, That nothing in this
Act contained shall be construed to repeal or in any man-
ner to modify any statute of this State heretofore enacted
authorizing any designated county, municipal or public
corporation, special district and/or political sub-division
of this State to refund or otherwise provide in any manner
whatsoever for the payment of any of its obligations as
they mature, but the same shall be and remain in full force
and effect.

SEC. 5. And be it further enacted, That nothing in this
Act shall be taken or construed to be in derogation of the
limitation imposed upon the borrowing powers of the coun-
ties, municipal or public corporations, special districts
and/or political sub-divisions of this State by Article III,
Section 54 of the Constitution of Maryland, and it is hereby
declared to be the legislative intent that this Act shall apply
to the payment and refunding of all other obligations evi-
denced by coupon bonds or notes, if the issuance of notes
for the purpose of paying or refunding any particular obli-
gations or class of obligations should be declared invalid
under the provisions of Article III, Section 54 of the Con-
stitution.

SEC. 6. And be it further enacted, That this Act is
hereby declared to be an emergency law and necessary for
the immediate preservation of the public health and safety
and having been passed by a yea and nay vote supported
by three-fifths of all the members elected to each of the
two Houses of the General Assembly, the same shall take
effect from the date of its passage.

Approved March 31, 1933.