912 LAWS OF MARYLAND [CH. 485

Chapter 589 of the Acts of 1951, said Act relating to
the County Commissioners of Baltimore County and
authorizing and empowering said County to borrow
money to finance the construction, acquisition, improve-
ment or extension of certain public facilities as therein
defined, said amendment relating to the borrowing of
funds and the issuance of bonds in amounts not in excess
of one per centum (1%) of the assessed value of all real
and personal property subject to assessment for unlim-
ited taxation in said County, in any one fiscal year,
AND MAKING SPECIFIC PROVISIONS FOR THE
CALENDAR YEARS 1953 AND 1954 AND FURTHER
PROVISIONS TO BE EFFECTIVE AFTER JANU-
ARY 1, 1955, without submitting the question for ap-
proval to the qualified voters of the County at refer-
endum.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 3 of Chapter 644 of the Acts of
1949, as said section was amended by Chapter 589 of the
Acts of 1951, be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

3. That in order to enable the County to finance the
public facilities defined in Section 1 of this Act, said County
is hereby granted the power and authority to borrow money
and incur indebtedness and to evidence said borrowing or
indebtedness by the issuance of its general obligation serial
maturity bonds, upon the terms and conditions hereinafter
set forth. Any such bonds may be issued pursuant to the
authority of this Act and for the purposes hereinabove
enumerated at any time and from time to time hereafter,
the authority herein contained to be construed as a con-
tinuing one and not exhausted at any time by the exercise
thereof, provided, however, that:

(a) 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 (i) the par value of all outstanding and unpaid
bonds issued under this Act prior thereto, and (ii) the
par value of all bonds of the County unissued but author-
ized by, or issued and outstanding under the authority of,
any Act of the General Assembly of Maryland passed
prior to the year 1949, except bonds authorized or issued
for the improvement of the Metropolitan District of Balti-
more County under Chapter 539 of the Acts of the General
Assembly of Maryland passed at its January Session in
the year 1924, as amended, shall exceed seven per centum