THEODORE R. MCKELDIN, GOVERNOR 1693

sioners of Anne Arundel County and the seal of Anne
Arundel County to be affixed thereto. Said bonds and the
interest payable thereon shall be and remain exempt from
State, county and municipal taxation. The payment of in-
terest on, and the retirement of, said bonds shall be pro-
vided out of the funds received under the provisions of
Section 8 of this Act, provided, however, that if the funds
so received shall not provide a sufficient amount to retire
all of such bonds as they mature then the Board of County
Commissioners of Anne Arundel County shall levy annually
against all taxable property in Anne Arundel County a
sufficient sum to make up the deficiency. The proceeds
from the sale of the bonds authorized to be issued by this
Act, less related expenses of issue, including legal fees,
shall be paid to the Treasurer of Anne Arundel County
and shall be expended in accordance with the terms and
conditions contained in this Act.

SEC. 6. And be it further enacted, That the authority to
borrow money or to incur indebtedness and to evidence
such borrowing by the issuance of bonds for the purposes
set forth in this Act shall be construed as a continuing one
and not exhausted at any time by the exercise thereof,
provided, however, that 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 (a) the par value of all outstanding
and unpaid bonds issued under this Act prior thereto and
(b) the par value of all bonds of Anne Arundel County
unissued but authorized by, or issued and outstanding un-
der the authority of any Act of the General Assembly of
Maryland passed prior to the year 1953 (except bonds au-
thorized or issued for the improvement of the Sanitary
Districts of Anne Arundel County, all as more fully pro-
vided for by Sections 485 to 537, both inclusive, of the Code
of Public Local Laws of Anne Arundel County, as amended)
shall exceed fourteen per centum of the then assessed value
of all real and personal property subject to assessment for
unlimited taxation by said County.

SEC. 7. And be it further enacted, That the money so
borrowed or the indebtedness incurred, in evidence of
which said bonds shall be issued, less reasonable expenses
and legal fees allocable to such borrowing, shall be used
by the Board of County Commissioners of Anne Arundel
County exclusively and solely for the designing and con-
struction, purchase and acquisition of the storm water or
surface water systems described by the ordinance or resolu-