1598                             Laws of Maryland                      [Ch. 878

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 contained in this section with
regard to legal investments shall be construed as relieving any person
of any duty of exercising reasonable care in selecting securities.

Sec. 2. And be it further enacted, That the provisions of this Act
are severable, and if any of its provisions shall be held unconstitu-
tional or invalid by any court of competent jurisdiction, the decision
of such court shall not affect or impair any of the remaining provi-
sions. It is hereby declared to be the legislative intent that this Act
would have been adopted had such unconstitutional or invalid pro-
vision not been included therein.

Sec. 3. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved May 3, 1961.

CHAPTER 878
(House Bill 913)

AN ACT to authorize and empower the County Commissioners of
St. Mary's County to borrow an amount not to exceed Five Hundred
Thousand Dollars ($500,000) and to issue bonds therefor and
assess taxes for the purpose of constructing and reconstructing
roads in St. Mary's County.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of St. Mary's County, in order to
provide funds for the purpose of constructing and reconstructing
county roads in St. Mary's County, are authorized and empowered
to borrow, from time to time any such amounts as they shall deem
necessary, money on the faith and credit of said County, and to issue
therefor bonds, provided that in the aggregate said bonds shall not
exceed the sum of Five Hundred Thousand Dollars ($500,000), and
provided that said bonds shall bear a rate of interest not exceeding
four per centum per annum; and provided further that if said money
or any part thereof shall be borrowed by the sale of bonds, that said
bonds shall be designated "County Road Bonds for St. Mary's
County", and shall be of such denomination or denominations, callable
or non-callable, and of such type or form, and of such period of
maturity as the said County Commissioners of St. Mary's County
may deem advisable, and said bonds shall be signed by the President
of said County Commissioners of St. Mary's County and the Treas-
urer of said County and have the corporate seal of St. Mary's County
affixed thereto, and the principal amount of said bonds and the
interest payable thereon shall be and remain exempt from taxation
by the State of Maryland and by the counties and municipalities of

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.