1782 LAWS OF MARYLAND [CH. 589

CHAPTER 589
(House Bill 671)

AN ACT to repeal and re-enact, with amendments, Section 3
of Chapter 644 of the Acts of 1949, said Act relating to the
County Commissioners of Baltimore County and authorizing
and empowering said County to borrow money to finance the
construction, acquisition, improvement or extension of cer-
tain public facilities as therein defined, said amendment
relating to the borrowing of funds for the purpose of con-
structing school buildings and school facilities, as defined,
without submitting the question for approval to the qualified
voters of the County at referendum.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 3 of Chapter 644 of the Acts of 1949, be, and
it is hereby repealed and re-enacted, with amendments, to read
as follows:

3. That in order to enable the County to finance the public
facilities defined in Section 1 of this Act, said County is hereby
granted the power and authority to borrow money and incur
indebtedness and to evidence said borrowing or indebtedness
by the issuance of its general obligation serial maturity bonds,
upon the terms and conditions hereinafter set forth. Any such
bonds may be issued pursuant to the authority of this Act and
for the purposes hereinabove enumerated at any time and from
time to time hereafter, the authority herein contained to be
construed as a continuing one and not exhausted at any time
by the exercise thereof, provided, however, that:

(a) No such debt shall be incurred and no such bonds shall
be issued, pursuant to the authority of this Act if, by such
issuance, the total par value of said bonds plus the sum of (i)
the par value of all outstanding and unpaid bonds issued tinder
this Act prior thereto, and (ii) the par value of all bonds of
the County unissued but authorized by, or issued and out-
standing under the authority of, any Act of the. General Assem-
bly of Maryland passed prior to the year 1949, except bonds
authorized or issued for the improvement of the Metropolitan
District of Baltimore County under Chapter 539 of the Acts
of the General Assembly of Maryland passed at its January
Session in the year 1924, as amended, shall exceed seven per

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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.