1536                             Laws of Maryland                      [Ch. 844

all executors, administrators, curators, trustees, and other fiduciaries,
may legally invest any sinking funds, monies, or other funds be-
longing to them or within their control in any bonds or other obli-
gations issued by the municipality pursuant to this subtitle, pro-
vided that such bonds and other obligations shall be secured by an
agreement between the issuer and the Federal Government in which
the issuer agrees to borrow from the Federal Government and the
Federal Government agrees to lend to the issuer, prior to the ma-
turity of such bonds or other obligations, monies in an amount
which (together with any other monies irrevocably committed to the
payment of principal and interest on such bonds or other obligations)
will suffice to pay the principal of such bonds or other obligations
with interest to maturity thereon, which monies under the terms
of said agreements are required to be used for the purpose of pay-
ing the principal of and the interest on such bonds or other oblil-
gations at their maturity. Such bonds and other obligations shall be
authorized security for all public deposits. It is the purpose of this
section to authorize any persons, political subdivisions and officers,
public or private, to use any funds owned or controlled by them for
the purchase of any such bonds or other obligations. Nothing con-
tained in this section with regard to legal investments shall be con-
strued as relieving any person of any duty of exercising reasonable
care in selecting securities.

Section 274. Separability

If any provision of this subtitle, or the application thereof to any
person or circumstances, is held invalid, the remainder of the sub-
title and the application of such provision to persons or circum-
stances other than those as to which it is held invalid, shall not be
affected thereby. The powers conferred by this subtitle shall be in
addition and supplemental to the powers conferred by any other
law.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved May 3, 1961.

CHAPTER 844
(House Bill 826)

AN ACT to add a new Section to the Charter of the Town of Easton,
the same being Section 168 A of Article 21, Code of Public Local
Laws of Maryland (1930 Ed.) Title Talbot County, Sub-title
Easton, said new section to be titled "Redevelopment-Urban Re-
newal" and to follow immediately after Section 168; to authorize
and empower the Mayor and Council of Easton to carry out urban
renewal projects involving the clearance and redevelopment and

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.