THEODORE R. MCKELDIN, GOVERNOR 1337

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1951.

Approved April 20, 1951.

CHAPTER 472
(Senate Bill 416)

AN ACT to add a new section to Article 7 of the Code of
Public Local Laws of Maryland (1930 Edition), title
"Carroll County, " said new section to be known as Sec-
tion 232A, to follow immediately after Section 232 there-
of and to be under the sub-title "Mt. Airy, " authorizing
the Mayor and Council of the Town of Mt. Airy to bor-
row the sum of $10, 000. 00 for the purpose of purchas-
ing the Pryor Building and relating generally to the
terms and conditions of said borrowing" power.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That a new section be and it is hereby added to Article 7
of the Code of Public Local Laws of Maryland (1930 Edi-
tion), title "Carroll County, " said new section to be known
as Section 232A, to follow immediately after Section 232
thereof and to be under the sub-title "Mt. Airy, " and to
read as follows:

232A. The Mayor and Council are authorized in their
discretion to borrow a sum or sums of money not exceed-
ing in the 'aggregate $10, 000. 00 and to use the proceeds of
said loan or loans for the purposes of purchasing the Pryor
Building in the Town of Mt. Airy in order that said build-
ing may be destroyed for the purpose of widening a street.
Said sum or sums shall be borrowed by the Mayor and
Council at the lowest possible interest rate, and the note
or other borrowing agreement shall provide that the princi-
pal of the loan shall be paid off at the rate of $1, 000. 00
annually. Any and all payments of interest to the lender
or lenders of the said principal amount shall be exempt
from any and all forms of State, County or municipal tax-
ation in this State.

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EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.