J. MILLARD TAWES, GOVERNOR                              1659

be refunded, and no issue of such refunding bonds shall exceed in
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 re-
demption date or dates of bonds to be redeemed and refunded and
the proceeds of the sale of any such refunding bonds shall be segre-
gated 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. 7. And be it further enacted, That, in the issuance of any of
the bonds authorized hereby, the County may, prior to the prepara-
tion of definitive bonds or obligations, issue interim certificates or
temporary bonds, with or without coupons, exchangeable for defini-
tive 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 in-
demnity as the County may think it proper and necessary to stipulate
and require.

Sec. 8. 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. 9. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved May 8, 1961.

CHAPTER 897
(House Bill 686)

AN ACT to authorize the County Commissioners of Anne Arundel
County to contribute to The Annapolis Emergency Hospital Asso-
ciation, Inc., a Maryland non-profit corporation operating Anne
Arundel General Hospital in the City of Annapolis, a sum not
exceeding $400,000.00 in order to finance in part the erection of
an addition and the construction of alterations and improvements
to said hospital; to authorize the said County Commissioners at
any time within ten years from the effective date of this Act, to
contribute a sum not exceeding $400,000.00 in order to finance in
whole or in part the erecting of a hospital which, in the judgment

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.