108 LAWS OF MARYLAND. [CH. 39

disposal system constructed pursuant to Sections 348A
to 348R, both inclusive, of said Article 43.

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SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 348C of Article 43 of the Anno-
tated Code of Maryland, 1935 Supplement, title "Health, "
sub-title "Water, Ice and Sewerage, " be and the same is
hereby repealed, and re-enacted with amendments to read
as follows:

348C. For the purpose of providing funds for the de-
sign, construction, establishment, extension, alteration,
purchase or condemnation, of any water supply, sewerage,
drainage or refuse disposal system, said municipal authori-
ties are authorized and empowered to issue bonds from
time to time in such amounts as they may deem necessary
to carry on said work, or any part of it; provided, however,
that at no time shall the amount of outstanding bonds so
issued be more than five (5) per cent of the aggregate as-
sessed valuation of all property listed and assessed for tax-
ation in such municipality. Said bonds may be issued with-
out previous legislative authority and the amounts of said
bonds outstanding at any time may be in addition to the
total indebtedness otherwise permitted by law. Bonds is-
sued under this section may be of such type and denomi-
nation and may bear such rate of interest, not exceeding
five (5) per cent per annum, as said authorities issuing
them may determine upon, provided that no bonds shall be
issued maturing at a period exceeding fifty years from the
date of issue. Said bonds shall be forever exempt from
State, county or municipal taxation. They shall be a lien
upon all property within the jurisdiction issuing them.

SEC. 2. And be it further enacted, That this Act is
hereby declared to be an emergency law 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 the members elected to each of the
two houses of the General Assembly, the same shall take
effect from the date of its passage.

Approved April 8, 1936.