Theodore R. McKeldin, Governor                  1499

it is hereby authorized and empowered in its discretion to borrow
at such time or times as it may be decided upon the faith and credit
of the county a sum or sums of money not to exceed Four Hundred
Thousand Dollars ($400,000.00) at a rate of interest not to exceed
four percentum (4%) per annum for the purpose of purchasing prop-
erty and erecting thereon a new hospital ADDITIONAL HOSPITAL
FACILITIES in Charles County ON OR ADJACENT TO THE
PRESENT HOSPITAL SITE.

Sec. 2. And be it further enacted, That the said Board of County
Commissioners is hereby authorized to borrow under the provisions
of this Act from such bank, banker or trust company or from any
other source as it may from time to time select. The said Board is
authorized to execute and deliver negotiable promissory notes, certifi-
cates of indebtedness or bonds of the County Commissioners of
Charles County to be signed by the Chairman of the Board with the
seal of the County affixed thereto in such denomination or denomina-
tions payable at such place and at such date or dates as the said
Board shall by resolution provide and/or to issue and to sell said notes,
certificates of indebtedness or bonds upon the faith and credit of
Charles County in such amount or amounts as the Board shall de-
termine, not in excess of a total amount of Four Hundred Thousand
Dollars ($400,000.00). The said notes, certificates of indebtedness
and/or bonds shall bear interest at such rate or rates not exceeding
four percentum (4%) per annum as shall be provided by resolution
of the Board, and in the event of the issuance of bonds to be evidenced
by semi-annual coupons attached to the bonds and bearing the fac-
simile signature of the Chairman of the Board. After bonds are
issued, the provisions of Sections 35 and 36 of Article 31 of the
Annotated Code of Maryland (1951 Edition as amended) shall be
complied with. The Board is authorized to borrow under the pro-
visions of this Act by selling the negotiable promissory notes, certifi-
cates of indebtedness and/or bonds herein authorized at a discount
less than the principal amount thereof provided that such discount
shall not exceed four percentum (4%) on the principal of the loan.
The said loan and every part thereof and every note, bond, coupon
or other evidence 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 for the purpose of paying
the interest on said notes and/or bonds and for redeeming the notes
and/or bonds as they mature, the Board of County Commissioners of
Charles County shall annually levy a tax upon the assessable property
of the county sufficient to pay the annual interest on said notes and/or
bonds and to redeem them as they become due until all the notes
and/or bonds shall mature and be redeemed. The taxes so levied shall
be collected in the same manner as other taxes are levied and collected
in the County.

Sec. 4. And be it further enacted. That the Board of County Com-
missioners of Charles County is hereby authorized and empowered
to do all acts and things necessary to issue and sell said bonds, to
have them registered as necessary and to issue negotiable promissory
notes and to do all things necessary to carry out the purposes of this
Act, even though the same may not be specifically mentioned herein
or in the laws applicable to the Board of County Commissioners.