WM. PRESTON LANE, JR., GOVERNOR. 1489

County subject to unlimited taxation thereby. At no time
shall the County Commissioners of Prince George's County
be obligated for a greater amount than One Million Two Hun-
dred Thousand Dollars ($1, 200, 000. 00) for money borrowed
under this sub-title; provided, however, that the authority
hereby conferred shall be a continuing one not exhausted by
a single exercise thereof, so that the above limitation shall
apply only to the amount of bonds, notes or other evidences
of indebtedness which may be outstanding at any one time
and so that, to the extent that the amount of such outstanding
bonds, notes or other evidences of indebtedness are brought
below said maximum limitation by retirements thereof, addi-
tional bonds, notes or other evidences of indebtedness up to
such limitation may be issued as above provided, either with
respect to the district with respect to which such retirements
are made or with respect to any other such district in Prince
George's County. Any bonds issued pursuant to the authority
of this Act and the interest payable thereon and the income
derived therefrom in the hands of the holders thereof from
time to time shall be, and is hereby declared to be, exempt
from State, county and municipal taxation of every kind and
nature whatsoever in the State of Maryland.

SEC. 2. And be it further enacted, That any and all bonds,
notes or other evidences of indebtedness heretofore issued
by or in the name of the County Commissioners of Prince
George's County pursuant to the authority of Section 1286
of the Code of Public Local Laws of Prince George's County
(1943 Edition), prior to its amendment by this Act, be and
the same are hereby ratified, confirmed and validated as the
general obligations of the County Commissioners of Prince
George's County, issued upon its full faith and credit and
payable as to principal and interest in the manner prescrib-
ed by said Section 1286, as amended hereby, primarily from
the proceeds of special assessments and ad valorem taxes im-
posed and levied in the special improvement districts with
respect to which any such bonds are issued and secondarily,
to the extent of any deficiency in such taxes, from the pro-
ceeds of unlimited ad valorem taxes levied upon all assess-
able property within the corporate limits of the County
subject to unlimited taxation thereby, said ratification, con-
firmation and validation being made hereby notwithstanding
any legal or other defect in any such bonds, notes or evi-
dences of indebtedness, or in the issuance thereof, and such
bonds, notes or other evidences of indebtedness being hereby
declared to be the general obligations of the County Com-
missioners of Prince George's County notwithstanding any
other provision to the contrary contained therein.