J. MILLARD TAWES, GOVERNOR                            257

CHAPTER 216

(Senate Bill 343)

AN ACT to authorize the County Commissioners of Howard County,
in their discretion, to borrow Five Hundred Thousand Dollars
($500,000.00) upon the faith and credit of said Howard County
for the purpose of providing the Board of Education of Howard
County with funds to pay, in whole or in part, the cost of con-
structing and equipping public school buildings in Howard County,
including additions to existing schools, site acquisitions, architec-
tural and other professional fees and expenses, and to issue bonds
therefor and to levy taxes to pay the principal and interest of such
bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Howard County be and they are
hereby authorized and empowered, in their discretion, to issue at one
time, or from time to time, upon the faith and credit of said County,
bonds in an amount or amounts not exceeding in the aggregate Five
Hundred Thousand Dollars ($500,000.00) for the purpose of provid-
ing the Board of Education of Howard County with funds to pay,
in whole or in part, the cost of constructing and equipping public
school buildings in Howard County, including additions to existing
schools, site acquisitions, architectural and other professional fees
and expenses.

Sec. 2. And be it further enacted, That the County Commis-
sioners of Howard County shall, when they exercise said discretion,
by resolution, prescribe the form and tenor of said bonds, the method
and manner of offering the same for sale and the rate or rates of
interest payable thereon, or the method of arriving at such rate or
rates of interest. Said County Commissioners may fix said rate or
rates of interest in said resolution or may request bidders to name
the rate or rates of interest upon which their bids are based, and
said County Commissioners may provide that different rates of
interest may be named for different serial maturities of said bonds
or for different issues thereof; provided, however, that under no
circumstances shall any such rate or rates of interest exceed five per
centum (6%) per annum. The resolution or resolutions authorizing
the issue of all or any of such bonds shall also fix the date or dates
of issue thereof and the terms and place for payment of maturing
principal and interest.

Sec. 3. And be it further enacted, That in the issuance of any
bonds pursuant to the authority of this Act, the provisions of Sec-
tions 9 to 11, inclusive, of Article 31 of the Annotated Code of Mary-
land (1957 Edition) shall govern. The interest coupons, if any,
attached to said bonds shall be authenticated with the facsimile sig-
nature of the President of the Board of County Commissioners of
Howard County, and said bonds themselves may be executed man-
ually by said President with the county seal affixed, attested by the

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.