J. MILLARD TAWES, Governor                      419

CHAPTER 233
(House Bill 528)

AN ACT to authorize and empower the County Commissioners of
Talbot County to borrow an amount not to exceed One Million
Dollars ($1,000,000.00), and to issue notes and/or bonds therefor,
for the purpose of making additions or alterations to existing
school buildings, to acquire land and construct new schools, and
to provide for a levy of taxes to retire said notes and/or bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Talbot County, a body corporate,
in order to provide funds for the purpose of making additions or
alterations to existing school buildings, to purchase land and erect
thereon new school buildings, to purchase new equipment for exist-
ing and newly constructed schools and to pay architectural and other
professional fees in connection with such construction, 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 One
Million Dollars ($1,000,000.00), and provided that said notes and/or
bonds shall bear a rate of interest not exceeding four 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 Commissioners and
the Treasurer of Talbot 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 "Public School Bonds of Talbot 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 Talbot County may deem advisable, and
said bonds shall be signed by the President of said County Commis-
sioners of Talbot County and the Treasurer of said County and have
the corporate seal of said Talbot County affixed thereto, and the
principal amount of said bonds and the interest payable thereon
shall be and remain exempt from taxation by the State of Maryland
and by the Counties and Municipalities of said State; provided
further that if any such bonds shall be sold, the provisions of Article
31, Sections 10 and 11 of the Annotated Code of Maryland (1957
Edition, as amended from time to time) shall be complied with.

Sec. 2. And be it further enacted, That the proceeds of such notes
and/or the proceeds from the sale of such bonds 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 of Talbot County
for such expenditures as it shall deem proper, in the sole discretion
of said Board, for the additions and alterations to existing school
buildings, to purchase land and erect thereon new school buildings,
to purchase new equipment for existing and newly constructed school
buildings and to pay architectural and other professional fees in
connection with such construction.

Sec. 3. And be it further enacted, That for the purpose of paying