1306                            Laws of Maryland                       [Ch. 790

for discount on the said semi-annual levy in an amount not to exceed
five percentum per annum OR INTEREST AT THE RATE OF SIX
PERCENTUM PER ANNUM. All taxes levied on the first day of
July shall be due as soon as they are levied, and if not paid on or
before the thirty first day of March of the year succeeding that in

which they are levied, shall bear interest from the first day of April

until paid; at the rate of six percentum per annum, and AND at any
time after the first day of July next succeeding the date of the levy,
and not before, payment may be enforced by sale as provided by law.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1959.

Approved April 28, 1959.

CHAPTER 790
(House Bill 541)

AN ACT to authorize and empower the County Commissioners of
Anne Arundel County, from time to time, to borrow not exceeding
Four Million Five Hundred Thousand Dollars ($4,500,000.00); to
provide that of the said sum, an amount not to exceed One Million
Dollars ($1,000,000.00) may be borrowed for the purpose of financ-
ing the construction, re-construction or improvement of public
buildings or any structure to house any functions of the County
government, including the acquisition and development of sites
therefor; and to provide that of the said sum, an amount not
exceeding Three Million Five Hundred Thousand Dollars ($3,500,-
000.00) may be borrowed for the construction or improvement of
public roads maintained and operated by or under the jurisdiction
of the County; to effect such borrowing by the issuance and sale
to the highest bidder or bidders at public sale of its general obli-
gation serial maturity coupon bonds; empowering the County Com-
missioners of Anne Arundel County to fix and determine by reso-
lution the form, tenor, interest rate (or method of arriving at the
same) terms, including redemption and registration provisions,
conditions, maturities and all other details incident or necessary
to the issuance, public sale and delivery of said bonds; authorizing
the method and manner of selling said bonds at public sale; author-
izing said County to refund any of said bonds purchased or re-
deemed in advance of maturity; empowering and directing the
County Commissioners of Anne Arundel County to contract to
levy and to levy, impose and collect annually ad valorem taxes which
will provide funds sufficient for the payment of said maturing
principal and interest; TO ESTABLISH EIGHT SPECIAL ANNE
ARUNDEL COUNTY TAXING DISTRICTS; and exempting said
bonds and said refunding bonds and the interest thereon from all
State, county and municipal taxation in the State of Maryland.

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.