1520 LAWS OF MARYLAND. [CH. 632

CHAPTER 632
(House Bill 689)

AN ACT authorizing and empowering the County Commis-
sioners of Harford County to borrow upon the faith and
credit of Harford County a sum of money not to exceed
One Million Five Hundred Thousand Dollars ($1, 500, 000)
at a rate of interest not to exceed five per cent, and to
issue notes and/or bonds therefor, for the purpose of erect-
ing and equipping school buildings and building additions
to existing school buildings, and equipping same; and pro-
viding for the levying of taxes by said County Commis-
sioners to repay the loan and interest thereon, and pro-
viding that said loan and every part thereof and the in-
terest payable thereon, shall remain exempt from State,
County and municipal taxation.

SECTION 1. Be it enacted "by the General Assembly of Mary-
land, That the County Commissioners of Harford County be
and they are hereby authorized and empowered to borrow at
such time or times as they may decide, upon the faith and
credit of Harford County, a sum or sums of money not to
exceed One Million Five Hundred Thousand Dollars ($1, 500, -
000), at a rate of interest not to exceed five per cent. (5%)
per annum, for the purpose of erecting new school buildings,
purchase of land for said buildings, architect and other pro-
fessional fees in connection with said buildings, alterations
of existing school buildings, and equipping said school build-
ings in Harford County.

SEC. 2. And be it further enacted, That the said County
Commissioners are hereby authorized to borrow, under the
provisions of this Act, from such bank, banker or trust com-
pany, or from any other source, as they shall from time to
time. select. The said County Commissioners are authorized
to execute and deliver negotiable promissory notes, certifi-
cates of indebtedness, or bonds of the County Commissioners
of Harford County, to be signed by the President of said
County Commissioners and the Treasurer of Harford County,
with the seal of the said County affixed thereto, in such
denomination or denominations, payable at such place and
at such date or dates as the said County Commissioners
shall by resolution provide and/or to issue and sell said
notes, certificates of indebtedness, or bonds upon the faith
and credit of the County in such amount or amounts as said
Commissioners shall determine, but the total amount of such