14 LAWS OP MARYLAND. [CH. 5

SEC. 3. And be it further enacted, That the proceeds de-
rived from said loan shall be placed in a special fund by the
County Treasurer, and shall be paid out by him only on
warrants from the County Commissioners, which warrants
shall be issued only upon proper vouchers presented by the
Board of Education of Calvert County for the purposes men-
tioned in Section 1 of this Act.

SEC. 4. And be it further enacted, That for the purpose
of paying the interest on said notes and/or bonds and for
redeeming said notes and/or bonds as they mature, the
County Commissioners of Calvert County shall apply all
monies, or so much thereof as may be necessary, received
from the State of Maryland under the provisions of Section
199C of Article 77 of the Annotated Code of Maryland (1947
Supplement), as said section may be amended from time to
time, providing for an Incentive Fund for school building.
In the event the Incentive Fund received from the State is
not sufficient to pay the interest on said notes and/or bonds
and the principal thereof, then the said County Commission-
ers shall pay the deficit thereof out of the General Funds of
the County or shall levy sufficient taxes to pay said deficit.
Any taxes which may be levied under this Act shall be col-
lected in the same manner as other taxes are levied and
collected in said County.

SEC. 5. And be it further enacted, That this Act is hereby
declared to be an emergency measure 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 of the members elected to each of the two
Houses of the General Assembly of Maryland, the same shall
take effect from the date of its passage.

Approved December 17, 1949.

CHAPTER 5

(Senate Bill 7)

AN ACT to exempt from all State, County and Municipal
taxation the loans and every part thereof, and the interest
payable thereon, authorized to be created under Chapter 502
of the Acts of 1949, and Chapter 1 of the Acts of 1949, Extra-
ordinary Session.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the loans and every part thereof, and the interest