650 LAWS OF MARYLAND [CH. 255

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 Com-
missioners, and in the event of issuance of bonds, to be evi-
denced 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 complied with. Said County
Commissioners are authorized to borrow under the provisions
of this Act by selling the negotiable promissory notes, certifi-
cates of indebtedness and/or bonds herein authorized, at a dis-
count 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 evi-
dence 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
only upon proper vouchers presented for the purchase of a
building in the vicinity of Bel Air, Maryland.

SEC. 4. And be it further enacted, That for the purpose of
paying the interest on said notes, certificates of indebtedness,
and/or bonds for redeeming said notes, certificates of indebted-
ness and/or bonds as they mature, the County Commissioners
of Harford County shall annually levy a tax upon the assess-
able property of said County sufficient to pay the annual in-
terest on said notes, certificates of indebtedness and/or bonds
and to redeem said notes, certificates of indebtedness, and/or
bonds as they become due and until all of said notes, certifi-
cates of indebtedness and/or bonds shall mature and be re-
deemed. The taxes so levied shall be collected in the same man-
ner as other taxes are levied and collected in said County.

SEC. 5. And be it further enacted, That this Act shall take
effect June 1, 1951.

Approved March 28, 1951.