1760 LAWS OF MARYLAND [CH. 761

Commission is hereby authorized and empowered from
time to time during any fiscal year to borrow such sums
of money on promissory notes, to be known as Tax Antici-
pation Certificates of Indebtedness to bear interest at not
exceeding six per centum (6%) per annum, to be signed
by the Chairman and the Secretary-Treasurer of the Com-
mission, as may be necessary to meet its expenses within
[Montgomery] either County under this Act and also to
meet debt service payable from said tax on the bonds first
authorized in the next preceding section, said sums of
money to be borrowed from any bank or institution or
individual willing to lend the same, and said Commission
is hereby authorized from time to time to reissue or renew
its said Tax Anticipation Certificates of Indebtedness at the
same or a greater interest rate not exceeding six per
centum (6%) per annum provided that the total amount
so borrowed and outstanding in any fiscal year shall not
exceed 75 per centum of the total proceeds received by the
Commission from the tax levied and collected during the
Commission's preceding fiscal year with [Montgomery]
such County under this section; and provided further that
all moneys so borrowed within any fiscal year shall be
repaid during the next succeeding fiscal year from the
proceeds of the said tax received by the Commission in the
fiscal year last mentioned. The remaining proceeds of the
said seven cent (7¢) tax may be used by the Commission
within its discretion for said debt service above referred
to and/or for the purpose of policing the several parks or
other areas under its jurisdiction and/or for the purpose
of acquisition, development, beautification or maintenance
of such parks and/or other areas and/or the establishment
therein of such playground and recreational facilities as
the Commission may determine.

SEC. 3. And be it further enacted, That Section 2-VII-A
of said Chapter 1008 of the Laws of Maryland of 1943,
as said section was enacted by Chapter 668 of the Laws
of Maryland of 1949, be and the same is hereby repealed
and re-enacted, with amendments, to read as follows:

VII-A. [As used in that portion of the next preceding
section which authorizes the levy and collection within
Montgomery County for a tax not exceeding five cents
(5c) on each One Hundred Dollars ($100) of the assess-
able basis of said County for playground and other rec-
reational facilities, such term "playground and other re-
reational facilities" is hereby construed to include, in
addition to the facilities defined in said next preceding
section, the construction of recreational centers, commu-