J. MILLARD TAWES, Governor                     1433

tions and improvements to existing schools in Washington County;
requiring that such funds be used prior to December 31, 1967,
providing for disposition of interest accumulated on the investment
of any funds authorized by this Act; providing for the formation
of an advisory school commission; and to repeal and re-enact with

amendments Section 177 of the Code of Public Local Laws of

Washington County (1957 Edition), being Article 22 of the Code
of Public Local Laws of Maryland, title "Washington County,"
subtitle "County Commissioners," as said section was last amended
by Chapter 280, Acts of 1959, requiring proceeds from the sale of
all school facilities to be placed into a "Special School Fund" for
all such sales made prior to December 31, 1967, and providing that
all provisions of this Act are severable. PROVIDING THAT THE
AUTHORITY TO BORROW MONEY HEREBY CONFERRED
SHALL EXPIRE ON DECEMBER 31, 1967 TO THE EXTENT
NOT EXERCISED PRIOR THERETO; EXEMPTING THE
BONDS HEREBY AUTHORIZED FROM ALL TAXATION IN
THE STATE OF MARYLAND AND REQUIRING THAT ALL
INTEREST EARNED ON THE INVESTMENT OF THE PRO-
CEEDS OF SUCH BONDS, PRIOR TO EXPENDITURE OF
SUCH PROCEEDS, BE USED EITHER FOR THE PURPOSE
FOR WHICH SAID BONDS ARE ISSUED OR TO PAY THE
PRINCIPLE OF AND INTEREST ON SAID BONDS; PROVID-
ING THAT AFTER APPLICATION OF SUCH INTEREST
EARNED, IF ANY, THE COUNTY COMMISSIONERS OF
WASHINGTON COUNTY SHALL LEVY AD VALOREM
TAXES IN RATE AND AMOUNT SUFFICIENT TO PAY THE
MATURING PRINCIPLE AND INTEREST ON SAID BONDS.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Washington County, a body cor-
porate, in order to provide funds for the purpose of constructing new
schools in Washington County, to make additions, improvements and
repairs to existing school facilities in said County, to purchase land
therefor and equip said schools, to pay architectural fees and other
professional fees in connection with such construction, repairs and
improvements, is hereby authorized and empowered to borrow, from
time to time, in such amounts as it shall deem necessary, money on
the faith and credit of said County, and to issue therefor notes or
bonds, provided that in the aggregate said notes and bonds shall not
exceed the sum of Nine Million Dollars ($9,000,000.00) and provided
that said notes and/or bonds shall bear a rate of interest not exceed-
ing three FIVE per centum per annum; and provided further that if
said money or any part thereof shall be borrowed by a note or notes,
such note or notes shall be signed by the President of the County Com-
missioners and the Treasurer of Washington County and have the seal
of said county affixed thereto; and provided further that if said money
or any part thereof shall be borrowed by the sale of bonds that said
bonds shall be designated "School Construction and Improvements
Bonds of Washington County," and shall be of such denomination or
denominations, callable or non-callable, and of such type, or form,
and of such period of maturity as the said County Commissioners
of Washington County may deem advisable, and said bonds shall be
signed by the President of said County Commissioners of Washington
County and the Treasurer of said County and have the corporate seal
of said Washington County affixed thereto, and the principal amount