THEODORE R. MCKELDIN, GOVERNOR 1249

puted with relation to the absolute maturity of the bonds in
accordance with standard tables of bond values, excluding,
however, from such computation the amount of any redemption
premium. The City may provide by ordinance the conditions
under which it will replace any bonds which may become multi-
latecl or be destroyed or lost after the issuance thereof.

SEC. 3. And be it further enacted, That the bonds hereby
authorized to be issued and the interest paid thereon, in the
hands of the persons entitled thereto, from time to time, shall
be and remain exempt from all State, county and municipal
taxation of any kind and nature whatsoever in the State of
Maryland.

SEC. 4. And be it further enacted, That in order to provide
for the payment of the principal and interest of said bonds as
and when the same respectively mature and are payable, the
City shall, in each year that any of said bonds are outstand-
ing, levy upon all property subject to assessment for taxation
within the corporate limits of the City, ad valorem taxes suffi-
cient in rate and amount to provide the moneys necessary to
pay said principal and interest when due. Said taxes shall
be levied without regard to any present or future limitations
on the powers of taxation of the City and shall have the same
priority and lien and shall be levied and collected in the same
manner as other City taxes and the payment thereof shall be
enforced in the same manner as payment of such other City
taxes are enforced.

SEC. 5. And be it further enacted, That any and all laws or
parts of laws or any part or parts of the Charter of the City
conflicting in any way herewith are hereby repealed, with re-
spect to the authority hereby granted, to the extent of such
conflict, and, except as herein provided, none of the limitations
or restrictions on the powers of the City to borrow money, to
levy taxes or to issue and sell bonds, contained in its Charter
or in any other law which limits, restricts or affects the powers
herein granted, shall be applicable hereto.

SEC. 6. And be it further enacted, That this Act shall take
effect from the date of its passage.

Approved April 13, 1951.