J. MILLARD TAWES, Governor                      469

CHAPTER 271
(Senate Bill 539)

AN ACT to authorize the County Commissioners of Howard County,
in their discretion, to borrow Two Hundred Thousand Dollars
($200,000.00) upon the faith and credit of said Howard County
for the purpose of providing the County Commissioners of How-
ard County with funds to pay, in whole or in part, the cost of
land acquisition in Howard County for public parks and watershed
areas, and to issue bonds therefor and to levy taxes to pay the
principal and interest of such bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Howard County be and they are
hereby authorized and empowered, in their discretion, to issue at
one time, or from time to time, upon the faith and credit of said
County, bonds in an amount or amounts not exceeding in the aggre-
gate Two Hundred Thousand Dollars ($200,000.00) for the purpose
of providing the said County Commissioners of Howard County with
funds to pay in whole or in part, the cost of acquisition of land in
Howard County, for public parks and areas to be conserved as
watershed areas.

Sec. 2. And be it further enacted, That the County Commis-
sioners of Howard County shall, when they exercise said discretion,
by resolution, prescribe the form and tenor of said bonds, the method
and manner of offering the same for sale and the rate or rates of
interest payable thereon, or the method of arriving at such rate or
rates of interest. Said County Commissioners may fix said rate or
rates of interest in said resolution or may request bidders to name
the rate or rates of interest upon which their bids are based, and
said County Commissioners may provide that different rates of
interest may be named for different serial maturities of said bonds
or for different issues thereof; provided, however, that under no cir-
cumstances shall any such rate or rates of interest exceed five per
centum (5%) per annum. The resolution or resolutions authorizing
the issue of all or any of such bonds shall also fix the date or dates
of issue thereof and the terms and place for payment of maturing
principal and interest.

Sec. 3. And be it further enacted, That in the issuance of any
bonds pursuant to the authority of this Act, the provisions of
Sections 9 to 11, inclusive, of Article 31 of the Annotated Code of
Maryland (1957 Edition and 1962 Supplement) shall govern. The
interest coupons, if any, attached to said bonds shall be authenti-
cated with the facsimile signature of the President of the Board of
County Commissioners of Howard County, and said bonds them-
selves may be executed manually by said President with the county
seal affixed, attested by the manual signature of the County Clerk,
or said bonds may be executed in the manner prescribed by Sections
13 to 18, inclusive, of said Article 31.

Sec. 4. And be it further enacted, That the proceeds from the
sale or sales of any of said bonds shall, after the payment of the cost
of engraving or printing said bonds and other incidental costs and