HERBERT R. O'CONOR, GOVERNOR. 1887

operating a hospital impressed with a public interest in the
area hereinbefore mentioned.

SEC. 3. And be it further enacted, That in order to further
carry out the provisions of this Act the said County Commis-
sioners in their capacity aforesaid are authorized and empow-
ered, at any time, or from time to time/to borrow on the faith
and credit of Montgomery County such sum or sums of money
in an amount or amounts not to exceed the appropriations
made under the foregoing sections of this Act; such borrowing
may be made by public or private sale of certificates of
indebtedness, or other evidence of debt, or by direct negotia-
tion with any State or National Banking Institution or Insti-
tutions or other lending agency. The said Commissioners are
further authorized and empowered to issue certificates of in-
debtedness or promissory notes in such denominations and
such amounts, and at such interest rate or rates and for such
period not exceeding three years as the said County Commis-
sioners may by resolution determine. Such certificates of
indebtedness or promissory notes to be executed by the Presi-
dent of the Board of County Commissioners of Montgomery
County and attested by the Clerk to said Board. Such promis-
sory notes or certificates of indebtedness may be renewed or
reissued at any time or from time to time or may be funded
by an issue of serial bonds having an average maturity of not
more than forty years from the date of the issue thereof. The
bonds, certificates of indebtedness, promissory notes, or other
evidences of debt issued under the provisions of this Act shall
be specifically exempted from the provisions of Sections 31,
32 and 33 of Article 31 of the Code of Public General Laws
of Maryland, and from the provisions of Section 224 of
Article 16 of the Code of Public Local Laws of Montgomery
County, and from the provisions of any other public general
or public local law of Maryland which conflict or appear to
conflict with the provisions of this Act. Any and all evidences
of debt issued pursuant to the provisions of this Act and the
interest thereon shall be and remain exempt from State,
County and Municipal taxes of every kind whatsoever in the
State of Maryland.

SEC. 4. And be it further enacted, That all debt incurred
under the provisions of this Act shall be and remain primarily
until paid the obligation of that portion of the Montgomery
County Suburban District as set forth in Section 1 herein, and
to be retired in whatever manner the County Commissioners
aforesaid may by resolution determine out of the thirty cent
(30) tax imposed by existing" law on that portion of the
Montgomery County Suburban District herein mentioned, all
such debt, however, to be and remain until paid guaranteed