THEODORE R. MCKELDIN, GOVERNOR 2001

credit of Harford County, a sum or sums of money not to ex-
ceed One Hundred Thousand Dollars ($100, 000) at a rate of
interest not to exceed five per cent (5%) per annum, for the
purpose of assisting to defray the cost of physical improve-
ments to the Harford Memorial Hospital of Harford County,
Maryland, in Havre de Grace, Maryland.

SEC, 2. And be it further enacted. That the said County Com-
missioners are hereby authorized to borrow, under the pro-
visions of this Act, from such bank, banker or trust company,
or from any other source, as they shall from time to time
select. The said County Commissioners are authorized to
execute and deliver negotiable promissory notes, certificates of
indebtedness, and/or bonds of the County Commissioners of
Harford County, to be signed by the President of said County
Commissioners and the Treasurer of Harford County with the
seal of the County affixed thereto, in such denominations, pay-
able at such place and at such date or dates as the County
Commissioners shall by resolution provide and/or to issue
and sell said notes, certificates of indebtedness, and/or bonds
upon the faith and credit of the County in such amount or
amounts as said Commissioners shall determine, but the total
amount of such notes, certificates of indebtedness and/or
bonds issued under this Act shall not exceed One Hundred
Thousand Dollars ($100, 000). The said notes, certificates of
indebtedness and/or bonds shall bear interest at such rate or
rates, not exceeding 5% per annum, as shall be provided by
resolution of the County Commissioners, and in the event of
issuance of bonds, to be evidenced by semi-annual coupons
attached to said bonds and bearing the facsimile signature of
the Treasurer of Harford County. If bonds are issued, the
provisions of Sections 35 and 36 of Article 31 of the Annotated
Code of Maryland (1939 Edition, as amended) shall be com-
plied with. Said County Commissioners are authorized to bor-
row under the provisions of this Act by selling the negotiable
promissory notes, certificates of indebtedness and/or bonds
herein authorized, at a discount less than the principal amount
thereof, provided that such discount shall not exceed 5% per
annum on the principal of said loan. The said loan and every
part thereof and every note, certificate of indebtedness, bond,
coupon, or other evidence thereof, and the interest payable
thereon shall be and remain exempt from State, County, and
Municipal taxation.

SEC. 3. And be it further enacted, That the proceeds derived
from said loan shall be placed in a special fund by the County
Treasurer, and shall be paid out by him only on warrants from
the County Commissioners, which warrants shall be issued