J. MILLARD TAWES, GOVERNOR                          1061

in the open market any of its outstanding bonds issued hereunder,
prior to the maturity thereof, or for the purpose of providing it
with funds for the redemption prior to maturity of any outstanding
bonds issued hereunder which are, by their terms, redeemable. The
resolution authorizing the issue of any such refunding bonds shall
describe the issue or issues of bonds of the County so to be refunded
and no issue of such refunding bonds shall exceed in par amount the
par amount of such bonds so described in said resolution. No such
refunding bonds shall actually be delivered to the purchaser or
purchasers thereof more than six (6) months in advance of redemp-
tion date or dates of bonds to be redeemed and refunded and the
proceeds of the sale of any such refunding bonds shall be segregated
and set apart by the County as a separate trust fund to be used
solely for the purpose of paying the purchase or redemption prices
of the bonds to be refunded.

Sec. 6. And be it further enacted, That, in the issuance of any
of the bonds authorized hereby, the County may, prior to the prepa-
ration of definitive bonds or obligations, issue interim certificates
or temporary bonds, with or without coupons, exchangeable for
definitive bonds when such bonds or obligations have been executed
and are available for delivery, provided, however, that any such
interim certificates or temporary bonds shall be issued in all respects
subject to the restrictions and requirements set forth herein. The
County may, by appropriate resolution, provide for the replacement
of any bonds issued hereunder which shall have become mutilated or
be destroyed or lost upon such conditions and after receiving such
indemnity as the Board of County Commissioners may think it
proper and necessary to stipulate and require.

Sec. 7. And be it further enacted, That any and all obligations
issued pursuant to the authority of this Act, the interest payable
thereon, and the income derived therefrom in the hands of the
holders thereof from time to time, shall be and is hereby declared
to be exempt from State, county and municipal taxation of every
kind and nature whatsoever in the State of Maryland.

Sec. 8. And be it further enacted, That this Act shall be deemed
to provide an additional and alternative method for the doing of the
things authorized hereby and shall be regarded as supplemental and
additional to powers conferred by other laws, and shall not be
regarded as in derogation of any powers now existing. This Act
being necessary for the welfare of the inhabitants of Prince George's
County, shall be liberally construed to effect the purposes hereof.
All Acts and parts of Acts inconsistent with the provisions of this
Act, are hereby repealed to the extent of such inconsistency.

Sec. 9. And be it further enacted, That this Act shall take effect
June 1, 1959.

Approved April 28, 1959.

Explanation: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.

CAPITALS indicate amendments to bill.

Strike out indicates matter stricken out of bill.