1550 LAWS OF MARYLAND. [CH. 644

Commissioners may think it proper and necessary to stipulate
and require.

SEC. 9. And be it further enacted, That any and all obliga-
tions issued pursuant to the authority of this Act, 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 muni-
cipal taxation of every kind and nature whatsoever in the
State of Maryland.

SEC. 10. And be it -further enacted, That, in the event the
County shall elect in any fiscal year after January 1, 1951
to borrow money or issue bonds under the authority of this
Act in excess of the limitation prescribed by sub-paragraph
(b) of Section 3 of this Act, the County shall first adopt a
resolution calling upon the Supervisors of Elections of Balti-
more County to conduct the referendum required by said
sub-paragraph (b) of Section 3. Any such referendum may be
held at any special election called by the County and held
for that purpose, or at any general election, all in accordance
with the provisions of law governing the conduct of special
and general elections in Baltimore County. The resolution
of the County above referred to shall constitute the call of
any such special election and shall likewise direct the Super-
visors of Elections of Baltimore County to conduct the same,
specifying the date thereof, or, if said referendum is to be
held at a general election, said resolution shall direct the
Supervisors of Elections of Baltimore County to place the
question referred on the ballot to be used at such general
election. Said resolution shall further provide that in addi-
tion to all other notice of any such special or general elec-
tion otherwise required by law, not less than four weeks'
public notice of any such referendum shall be given, such
notice to be effected by posting a certified copy of said resolu-
tion on the Court House door in Towson, Maryland, and by
publishing a full and complete notice of such referendum
once a week for four consecutive weeks next preceding the
date of the election at which such referendum shall be held
in two or more newspapers published and having circulation
in Baltimore County. Said resolution shall also contain a
precise statement of the question to be referred, which ques-
tion shall indicate briefly the purposes upon which the pro-
ceeds of the proposed borrowing are to be expended, the
amount of money to be borrowed and a reference to this Act
by its chapter number.

Following the passage of such resolution, the Supervisors
of Elections of Baltimore County shall cause to be printed