562                              Laws of Maryland                       [Ch. 419

Section 1. Be it enacted by the General Assembly of Maryland,
That the Board of County Commissioners of Charles County be and it
is hereby authorized and empowered in its discretion to borrow at
such time or times as it may be decided upon the faith and credit of
the county a sum or sums of money not to exceed Two Hundred and
Fifty Thousand Dollars ($250,000.00) at a rate of interest not to ex-
ceed four and one-half percentum (4½%) per annum for the pur-
pose of supplementing funds for the purchase of property and the
erection thereon of a new hospital in Charles County.

Sec. 2. And be it further enacted, That the said Board of County
Commissioners is hereby authorized to borrow under the provisions
of this Act from such bank, banker or trust company or from any
other source as it may from time to time select. The said Board is
authorized to execute and deliver negotiable promissory notes, certifi-
cates of indebtedness or bonds of the County Commissioners of
Charles County to be signed by the Chairman of the Board with the
seal of the County affixed thereto in such denomination or denomina-
tions payable at such place and at such date or dates as the said Board
shall by resolution provide and/or to issue and sell said notes, certifi-
cates of indebtedness or bonds upon the faith and credit of Charles
County in such amount or amounts as the Board shall determine, not
in excess of a total amount of Two Hundred and Fifty Thousand Dol-
lars ($250,000.00). The said notes, certificates of indebtedness and/or
bonds shall bear interest at such rate or rates not exceeding four and
one-half percentum (4½%) per annum as shall be provided by reso-
lution of the Board, and in the event of the issuance of bonds to be
evidenced by semi-annual coupons attached to the bonds and bearing
the facsimile signature of the Chairman of the Board. After bonds
are issued, the provisions of Sections 10 and 11 of Article 31 of the
Annotated Code of Maryland (1957 Edition as amended from time
to time) shall be complied with. The Board is 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 four and one-half percentum (4½%) on
the principal of the loan. The said loan and every part thereof and
every note, bond, coupon or other evidence thereof and the interest
payable thereon shall be and remain exempt from State, county and
municipal taxation.

Sec. 3. And be it further enacted, That for the purpose of paying
the interest on said notes and/or bonds and for redeeming the notes
and/or bonds as they mature, the Board of County Commissioners of
Charles County shall annually levy a tax upon the assessable property
of the county sufficient to pay the annual interest on said notes and/
or bonds and to redeem them as they become due until all the 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 the County.

Sec. 4. And be it further enacted, That the Board of County
Commissioners of Charles County is hereby authorized and empow-
ered to do all acts and things necessary to issue and sell said bonds,
to have them registered as necessary and to issue negotiable promis-
sory notes and to do all things necessary to carry out the purposes of
this Act, even though the same may not be specifically mentioned