442 LAWS OF MARYLAND [CH. 100

contribution by borrowing upon the faith and credit of said
County an amount not exceeding Thirty Thousand Dollars
($30,000.00) which said borrowing is hereby specifically au-
thorized and to issue and sell coupon bonds therefor not in
excess of said principal sum.

SEC. 3. And be it further enacted, That in the event that
said contribution is secured by promissory note or notes of
said County, the County Commissioners of Allegany County
are hereby authorized and empowered to levy upon all of the
assessable property within the corporate limits of said County
for the fiscal year beginning July 1, 1950, a tax sufficient to
pay said promissory note or notes, together with the interest,
which shall have accrued thereon from the time of said loan
to the time of payment of the same.

SEC. 4. And be it further enacted. That in the event that
coupon bonds are issued to secure said contribution, such
bonds shall be designated and known as Memorial Hospital
Bonds (Contagious Diseases Unit Series) and when issued
shall be signed by the President of the County Commissioners
of Allegany County, duly attested by the Clerk of the County
Commissioners, and the corporate seal of the County Com-
missioners shall be attached thereto. The interest coupons
attached to each of said bonds shall bear the facsimile signa-
ture of the President of the County Commissioners of Alle-
gany County, printed, lithographed or engraved thereon.

The Board of County Commissioners of Allegany County
before the issuance of said bonds shall by formal resolution
prescribe the form and tenor of such bonds; the date of issue;
the date or dates of maturity; and the time and place at
which interest is to be paid. All of said bonds shall be free
of all Maryland State, County and Municipal Taxes, and shall
not bear interest in excess of three per cent per annum, but
the rate of interest of said bonds may be determined by com-
petitive bidding, should the County Commissioners, by its
order, so provide. They shall be in coupon form in denomina-
tions of One Hundred Dollars ($100.00), or any multiple
thereof, and may be issued upon the serial maturity plan as
the County Commissioners of Allegany County may by its
order in respect thereto determine.

All of the bonds authorized by this Act shall, when issued,
be sold in the manner prescribed by Section 35 of Article 31
of the Annotated Code of Maryland (1939 Edition), and any
amendments thereto, and any of the proceeds of said bonds
remaining after the acquisition of said sum of Thirty Thou-
sand Dollars ($30,000.00), shall be applicable to all expenses
in connection with said bond issue and otherwise be for the
use of the County Commissioners of Allegany County.