532. LAWS OF MARYLAND [CH. 282

they are hereby authorized and empowered to borrow at
such time or times as they may decide, upon the faith
and credit of Charles County, a sum or sums of money
not to exceed Two Hundred Thousand Dollars ($200, -
000. 00) at a rate or rates of interest not to exceed Three
and one-half per cent (3½%) per annum, for the purpose
of improving and remodeling the Court House situated
in the County Seat at La Plata, Charles County, Maryland.

SEC. 2. And be it further enacted, That such bonds
may bear a rate or rates of interest but none shall exceed
Three and one-half per cent (3½%) per annum, and
shall be issued on the serial maturity plan so that one-
twentieth of the principal amount of the bonds issued
is retired each year. The County Commissioners of Charles
County shall by resolution prescribe the form and tenor
of such bonds, the date or dates of issue, the amounts
of issue and the time and place at which interest is to
be paid. Such bonds shall be signed by the President of
the Board of County Commissioners, countersigned by
the County Treasurer, and the corporate seal of the
County shall be attached thereto by the Clerk of the
County Commissioners and the interest coupons attached
to each of such bonds shall bear the facsimile signature
of the County Treasurer printed, lithographed or engraved
thereon. Such bonds shall be designated "Charles County
Court House Improvement Bonds, " said bonds and the
interest payable thereon shall be and remain exempt from
State, County and Municipal taxation.

SEC. 3. And be it further enacted, That for the purpose
of paying the interest on said bonds and for redeeming
the same as they mature and become payable, the County
Commissioners of Charles County shall levy annually such
tax on the assessable property of Charles County as shall
be necessary to pay the interest on any such bonds that
may be issued, and outstanding hereunder, as the same
shall become due and payable, and also in addition thereto,
the said County Commissioners shall levy annually a tax
upon the assessable property of said County sufficient
to pay and retire all of said bonds as they shall mature,
and the said County Commissioners hereby are empowered
to utilize for the payment of any such interest or principal
any part, not previously pledged, of any monies received
from the State of Maryland under existing or future law
relating to the income tax, the tax on racing, the recorda-
tion tax, the tax on amusements and the license tax, but
not the Incentive Fund for school buildings.