742                              Laws of Maryland                       [Ch. 528

(c)    The maximum amount of such bond anticipation notes of
any such [political subdivision] public body shall not exceed in any
case the maximum amount of bonds for the issuance of which said
[political subdivision] public body has authority at the time said
notes are issued.

(d)  Bond anticipation notes issued under the provisions of this
section shall pass as negotiable instruments and possess all the at-
tributes thereof to the extent set forth in Section 8 of this article
entitled "Negotiability of public indebtedness."

(e)   Bond anticipation notes sold under the provisions of this sec-
tion shall not be subject to the provisions of Section 10 hereof en-
titled "Method of advertising and offering for sale," nor the pro-
visions of Section 11 hereof entitled "Method and time of maturing
bonds."

(f)   In the event any official whose signature shall appear on any
such notes shall cease to be such official prior to the delivery of such
notes, or in the event any such official whose signature shall appear
on any such notes shall have become such after the date of issue
thereof, said notes shall nevertheless be valid and binding obliga-
tions of any such [political subdivision] public body in accordance
with their terms.

(g)   Any bond anticipation notes issued under the authority hereof,
and any bonds thereafter issued from the proceeds of which said
notes are to be paid, together with the interest on said obligations,
shall be and remain exempt from taxation of any kind and nature
whatsoever by the State of Maryland and by any county, municipal
corporation or other political subdivision thereof.

Sec. 2. And be it further enacted, That this Act is hereby declared
to be an emergency measure and necessary for the immediate pres-
ervation of the public health and safety, and having been passed by
a yea and nay vote supported by three-fifths of the members elected
to each of the two houses of the General Assembly, the same shall
take effect from the date of its passage.

Approved April 24, 1961.

CHAPTER 528
(House Bill 517)

AN ACT to repeal and re-enact, with amendments, Section 17(a)
of Article 89B of the Annotated Code of Maryland (1960 Supple-
ment), title "State Roads", sub-title "In General", eliminating in
Cecil County the requirement that one member of the board of
property review must be a farmer AND DEALING GENERALLY
WITH THE MEMBERSHIP OF THE PROPERTY REVIEW
BOARD IN SAID COUNTY.

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.