474 LAWS OF MARYLAND. [CH. 259

ther authorized and empowered to issue at one time or
from time to time negotiable certificates of indebtedness
of the County in an amount not exceeding the amount of
County funds on deposit with such failed bank or banking
institution not theretofore repaid to the County. Such
certificates of indebtedness shall mature not more than
five years from their date and may be renewed from time
to time, and new certificates of indebtedness may be issued
from time to time for the payment of any such certificates
of indebtedness, but all such certificates of indebtedness
shall mature within the time herein limited for the ma-
turity of the original certificates of indebtedness. Such
certificates of indebtedness shall bear interest at a rate
not exceeding six per cent per annum, payable annually
or at shorter intervals, and shall be sold in such manner
as said Board shall determine; said Board shall by reso-
lution fix the form of such certificates of indebtedness,
the officers by whom they shall be executed, the medium
of payment and the place or places in Maryland or any
other state at which principal and interest shall be pay-
ble. All monies received from the sale or other dispo-
tion of the bonds or other securities held as security for
for such deposit or received on account of any indemnity
bond given to secure such deposit shall be kept in a sepa-
rate fund and applied solely to the payment of the prin-
cipal and interest of such certificates of indebtedness and
renewals thereof. In each or any year after the issu-
ance of such certificates of indebtedness the Board of
County Commissioners may, if they shall deem it to the
best interest of the County, include in the annual tax levy
an amount sufficient to provide for the payment of the
interest thereon as the same shall fall due and any or all
of the principal thereof. If prior to the adoption of the
appropriation resolution for the fiscal year during which
the certificates shall become due and not renewable under
the provisions of this Act a sufficient amount has not been
realized from the sale of securities or other sources to meet
the principal and interest of such certificates of indebted-
ness remaining unpaid, there shall be included for this
purpose in the annual tax levy an amount equal to the
principal and interest of such certificates remaining un-
paid reduced by the amount of money already on hand
for such purpose.

SEC. 13. That, in order to provide for the proper ad-
ministration of the fiscal affairs of the County, the Board
of County Commissioners shall hold at least one regular