262                               Laws of Maryland                       [Ch. 219

promissory notes, certificates of indebtedness, or bonds of the County
Commissioners of Harford County, to be signed by the President of
said County Commissioners and the Treasurer or Deputy Treasurer
of Harford County, with the seal of the said County affixed
thereto, in such denomination or denominations, payable at such place
and at such date or dates as the said County Commissioners shall
by resolution provide and/or to issue and sell said notes, certificates
of indebtedness, or bonds upon the faith and credit of the County
in such amount or amounts as said Commissioners shall determine,
but the total amount of such notes and bonds issued under this Act
shall not exceed Four Hundred Thousand Dollars ($100,000). FIVE
HUNDRED THOUSAND DOLLARS ($500,000.00). The said notes,
certificates of indebtedness and/or bonds shall bear interest at
such rate or rates, not exceeding 5% per annum, as shall be provided
by resolution of the County Commissioners, and in the event of
issuance of bonds to be evidenced by semi-annual coupons attached
to said bonds and bearing the facsimile signature of the Treasurer
of Harford County. If bonds are issued, the provisions of Sections 9,
10 and 11 of Article 31 of the Annotated Code of Maryland (1957
Edition), shall be complied with. Said County Commissioners are
authorized to borrow under the provisions of this Act by selling the
negotiable promissory notes, certificates of indebtedness and/or bonds
herein authorized, at a discount less than the principal amount
thereof, provided that such discount shall not exceed 5% per annum
on the principal of said loan. The said loan and every part thereof
and every note, bond, coupon or other evidence thereof, and the in-
terest payable thereon, shall be and remain exempt from State,
County and municipal taxation.

Sec. 3. And be it further enacted, That the proceeds derived from
said loan shall be placed in a special fund by the County Treasurer,
and shall be paid out by him only on warrants from the County
Commissioners, which warrants shall be issued only upon proper
vouchers presented by the Board of Education COUNTY COMMIS-
SIONERS of Harford County for the erection and equipment of an
annex to the Court House.

Sec. 4. And be it further enacted, That for the purpose of paying
the interest on said notes and/or bonds and for redeeming said notes
and/or bonds as they mature, the County Commissioners of Harford
County shall annually levy a tax upon the assessable property of said
County sufficient to pay the annual interest on said notes and/or
bonds and to redeem said notes and/or bonds as they become due until
all of said notes and/or bonds shall mature and be redeemed. The
taxes so levied shall be collected in the same manner as other taxes
are levied and collected in said County.

Sec. 5. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved March 28, 1961.