1534 LAWS OF MARYLAND. [CH. 643

the form, tenor, interest rate or method of arriving at the
same, terms, including redemption and registration pro-
visions, conditions, maturities and all other details in-
cident or necessary to the issuance, public sale and de-
livery of said bonds, without reference to any other law
heretofore enacted; prescribing the method and manner
of selling said bonds at public sale; empowering said
County, subject to certain limitations, to sell said bonds
at, above or below the par value thereof; empowering said
County to refund any of said bonds purchased or redeem-
ed in advance of maturity; empowering and directing said
County to apply to the payment of principal and interest
of said bonds and said refunding bonds any funds received
from the State of Maryland and the United States of
America, which may be properly allocable to said purpose;
empowering and directing said County to contract to levy
and to levy, impose and collect annually ad valorem taxes
which, in addition to the State and Federal allotments,
if any, will provide funds sufficient for the payment of
said maturing principal and interest; exempting said
bonds and said refunding bonds and the interest thereon
from all State, county and municipal taxation in the State
of Maryland; and providing for one or more referenda on
the question whether all or any part of the authority
granted hereby shall be exercised, and prescribing the de-
tails incident to the holding of such referenda.

WHEREAS,, the recent accelerated growth of school popula-
tion in Baltimore County, the lengthening of the period of
education in the public schools and the reduction of the
number of pupils per teacher, pursuant to policy established
by State law, have all combined to cause an acute shortage
of public school facilities in the County and to render exist-
ing school buildings, including buildings recently constructed
or presently under construction, inadequate to meet present
and anticipated needs; and

WHEREAS, the Board of Education of Baltimore County
has represented that, for the reasons set forth above, it will
be necessary to accelerate the school construction program
in order to have available adequate school facilities when the
need occurs, and said Board has requested the County Com-
missioners of Baltimore County to borrow on its full faith
and credit a substantial sum of money in order to provide
the funds necessary to finance said school construction pro-
gram; and