ALBERT C. RITCHIE, GOVERNOR.                  655

SEC. 2. And be it further enacted, That this Act shall take
effect on June 1, 1931.

Approved April 17, 1931.

CHAPTER 246.

AN ACT to authorize and empower the Board of County Com-
missioners of Calvert County to borrow upon the faith and
credit of said county the amount of three hundred thousand
dollars ($300, 000), and to issue and sell bonds therefor to
bear interest ait a rate not exceeding four and one-half per
cent. (4^%), payable semi-annually; the proceeds thereof,
to be expended by the State Roads Commission of Maryland
for the construction and improvement of roads and bridges
in said county, such construction to be divided as equally as
practical among the several election districts thereof; to pro-
vide for the sale of said bonds; to provide for the redemption
and/or purchase of said bonds out of road and bridge con-
struction funds allocated to or set aside for use in Calvert
County: when allowed by the State Roads Commission; to pro-
vide for levying of taxes by said County Commissioners to
repay said loan and interest thereon; and providing that said
loan and the interest thereon shall be and remain exempt from
State, county and municipal taxes.

WHEREAS, It is deemed desirable that the extension of the
State Roads System be expedited as rapidly as feasible by the
construction of additional lateral roads in Calvert County, for
the reasons, among others, that by advertising longer sections of
road the same can be constructed at the minimum cost per mile
and because by completing an entire project in one season the
convenience of the traveling public will be greatly subserved,
and because the taxpayers of said county will thereafter be re-
lieved from the expense incident to the repair and maintenance
of the roads so constructed, and

WHEREAS, Only a limited amount of funds are available each
year from the lateral and post road funds for such construction
and in order to expedite the construction as aforesaid, the
County Commissioners of Calvert County and the State Roads
Commission of Maryland have entered into an agreement pur-
suant to which the County Commissioners of Calvert County
will, if and when duly authorized, borrow the sum of three hun-
dred thousand dollars ($300, 000), which sum will be spent by