84 LAWS OF MARYLAND. [CH. 45

Section 289A. That for the purpose of providing addi-
tional funds to pay the expense of the completion of the sewer
system in the Towson Sewerage Area, and to provide for the
extension of said sewer system and the enlargement of said
Towson Sewerage Area, the County Commissioners of Balti-
more County are hereby authorized, empowered and directed
to borrow a sum of money not to exceed one hundred thousand
dollars ($100, 000) on the faith and credit of Baltimore
County, or so much thereof as may be necessary to pay the
expense of completion of said sewer system and to provide for
the extension of said sewer system from time to time, and to
issue and sell certificates of indebtedness of Baltimore County
as evidence of such loan, said certificates to be in good and
sufficient form and to be in denominations of five hundred
dollars ($500. 00) and multiples thereof, and to be dated to
mature at such time or times and in such amounts and to bear
such rate of interest, payable at such time or times as the
County Commissioners of Baltimore County may determine,
said certificates to be signed by the President of the County
Commissioners of Baltimore County, and by the Treasurer of
Baltimore County, and to have the corporate seal of Baltimore
County affixed thereto. This loan shall be designated as part
of "The First Sewerage Loan of Baltimore County, Mary-
land, " and said loan and the interest payable thereon shall be
and remain exempt from State, County and municipal taxes.

Section 289B. That for the purpose of paying said certifi-
cates of indebtedness when and as they mature, and for the
purpose of paying the interest thereon when and as the same
becomes due, a tax of one per cent, of the assessed value of all
the property benefited by the Towson Sewer System within
the Towson Sewerage Area as it now exists, or as it is from
time to time hereafter enlarged, or so much of one per cent,
as may be deemed necessary or desirable by the County Com-
missioners of Baltimore County, shall be levied by said County
Commissioners each year on the property so benefited until
said certificates and the interest thereon are paid: said taxes
so to be assessed and levied to be a lien upon the property of
the person so assessed, and to be collected as county taxes are
now collected by law. In case the property benefited by the
Towson Sewer System is insufficient to pay said certificates as
they mature or the interest thereon as the same becomes pay-
able, the County Commissioners of Baltimore County are here-
by authorized, empowered and directed to annually levy a tax