574                              Laws of Maryland                       [Ch. 424

be paid to the State Treasurer and shall be paid out by the State
Treasurer upon the order of the Authority, and upon warrants of the
State Comptroller, solely for the purposes set forth in Section 1 of
this Act.

Sec. 5. And be it further enacted. That until all of the interest
on and principal of any certificates issued under this Act have been
paid in full, there is hereby levied and imposed an annual State tax
on each $100 of assessable property at the rate to be determined in
the following manner: on or before December 1, 1961, and on or
before December 1 in each calendar year thereafter, the Board of
Public Works shall certify to the governing bodies of each of the
counties and Baltimore City the rate of State tax on each $100 of
assessable property necessary to produce revenue to meet all interest
and principal which will be payable to the close of the next ensuing
calendar year on all certificates theretofore issued or theretofore
authorized by resolution of the Board of Public Works to be issued,
and the governing bodies of each of the Counties and Baltimore City
shall forthwith levy and collect such tax at such rate.

Sec. 6. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved April 24, 1961.

CHAPTER 424
(Senate Bill 480)

AN ACT to repeal and re-enact, with amendments, Section 2 of
Chapter 548 of the Acts of 1959, and to authorize and empower
the County Commissioners of Charles County to borrow in their
discretion upon the faith and credit of said County an amount or
amounts not exceeding one million, five hundred thousand dollars
($1,500,000.00), and to issue bonds therefor, for the construction,
alteration, remodeling and equipping of schools in Charles County;
and providing for the levy of taxes in Charles County for the pay-
ment of principal and interest on such bonds, and/or the pledging
of the proceeds of the School Building Incentive Fund for such
purposes, and changing the maximum interest rate authorized for
the sale of school bonds by Chapter 548 of the Acts of 1959.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 2 of Chapter 548 of the Acts of 1959, be and it is hereby
repealed and re-enacted, with amendments, to read as follows:

2. That said County Commissioners shall by proper resolution
fix the maturity or maturities of any such bonds, provided, however,
that no bonds so issued shall mature later than twenty years from
the date of their issue, and provided further that any such bonds

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.