372 LAWS OF MARYLAND. [CH. 220
CHAPTER 220.

AN ACT to authorize the County Commissioners of Carroll
County to borrow on the faith and credit of Carroll
County the sum of two hundred thousand dollars, and to
issue bonds therefor, to provide a tax for the payment,
of certain debts incurred by the Board of County Com-
missioners of Carroll County, and the interest on said
bonds and their redemption, directing the mode of
spending the money so borrowed, and declaring this Act
an Emergency Law.

WHEREAS, in order to properly build and maintain cer-
tain county roads in Carroll County, Maryland, the County
Commissioners of Carroll County, Maryland, from time to
time, have issued warrants and/or certificates of indebted-
ness approximating in principal $45, 856. 27 as of January
31, 1933; and have borrowed pursuant to the authority
conferred by Chapter 519 of the Acts of 1931, the sum of
$200, 000. 00 of which amount there now remains unpaid
the sum of $150, 000. 00; and whereas under the provisions
of said Act $50, 000. 00 of said amount becomes due and
payable October 1, 1933; and whereas there will not be a
sufficient sum realized from the collection of taxes to pay
the expenses of the county to be incurred prior to the next
levy of taxes. Now, therefore,

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of Carroll
County be, and it is hereby authorized and empowered to
borrow two hundred thousand dollars and to issue its
bonds therefor, bearing interest at a rate not exceeding
four and one-half per centum, payable annually, said loan
and the interest thereon being exempt from all state,
county and municipal taxation, whether laid directly or in-
directly, in the hands of any corporation or individual
holder.

SEC. 2. And be it further enacted, That the County
Commissioners of Carroll County is hereby authorized and
directed to have bonds prepared in good and sufficient
form with interest bearing coupons in the aggregate of
two hundred thousand dollars, bearing date the first day
of May, 1938, in the sum of one thousand dollars ($1, 000. -
00) each; said bonds shall be numbered consecutively from
one to two hundred, both inclusive, and be signed by the
President of the Board of County Commissioners and