76 LAWS OF MARYLAND. [CH. 39

missioners shall by resolution provide. The said notes shall
bear interest at such rate or rates, not exceeding 4%
per annum, as shall be provided by resolution of the County
Commissioners, such interest 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 authorized to borrow
under the provisions of this Act by selling the negotiable
promissory notes herein authorized, with coupons attached,
at a discount less than the principal amount thereof, pro-
vided that the coupon interest, together with any such dis-
count, shall not exceed 41/2 % per annum on the principal of
said loan. The 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 said County Commissioners shall use the
proceeds of such loan for the purpose of paying part of a
loan of Four Hundred and Forty Thousand Dollars ($440, -
000. 00) to become due on October 1, 1934; provided, how-
ever, that the purchaser of any of said Promissory Notes
issued by the County Commissioners as provided herein
shall not be responsible or liable for the application of the
amount paid for said note or notes.

234H. That for the purpose of paying the interest on
said loan the Board of County Commissioners of Harford
County shall for the year 1935 and annually thereafter
until all of said loan made under the authority of this Act
shall mature and be redeemed, levy a tax upon the assess-
able property in said County sufficient to pay the annual
interest on said loan outstanding, said taxes to be collected
as other taxes levied in said County are collected; and for
the purpose of redeeming the principal of said loan, said
Board shall annually levy a tax upon the assessable prop-
erty in said County sufficient to pay the installments there-
of as the same shall become due, making due allowance
in such levy for any sum or sums which shall have been
received by the said County Commissioners from the State
Roads Commission and specially set aside for the purpose
of redeeming the principal of said loan, the taxes so levied
to be collected in the same manner as the taxes levied for
the payment of the interest, as above set forth.

SEC. 2. And be it further enacted, That this Act shall
take effect on June 1, 1933.

Approved March 3, 1933.