ALBERT C. RITCHIE, GOVERNOR.                    29

count, shall not exceed 4 1/2% 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.

234C. The said County Commissioners shall use the pro-
ceeds of such loan for the purpose of paying to the State Roads
Commission of Maryland, upon the presentation of proper
vouchers and demands from said Commission for the construc-
tion of roads to be built within the boundaries of Harford
County, such roads to be designated by said State Roads Com-
mission of Maryland.

234D. That for the purpose of paying the interest on said
loan the Board of County Commissioners of Harford County
shall for the year 1931 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 assessable 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 property in said County sufficient to
pay the installments thereof as the same shall become due, mak-
ing 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.

Approved March 13, 1931.

CHAPTER 17.

AN ACT to add a new section to Staton's Code of Public
Local Laws of Worcester County, title "Ocean City, " to
follow Section 172A, and to be designated as Section 172B,
authorizing the Mayor and City Council of Ocean City to
borrow money on promissory notes not to exceed a certain
prescribed amount at any one time.