502                             LAWS OF MARYLAND                      [CH. 297

nations in which said bonds shall be issued, the interest rate or rates
of said bonds or the manner of determining the same, provided the
rate or rates of interest shall not exceed five per centum (5%) per
annum, the manner and place of payment, the date, place and terms
of the sale of the bonds, and all details not herein otherwise pro-
vided for with respect to the form, issuance and sale thereof; said
bonds shall be signed by the President of the County Commissioners
and by the Treasurer of Charles County, and the seal of said County
shall be affixed thereto. Said bonds may be made registerable as to
principal.

Sec. 3. And be it further enacted, That any bonds issued here-
under may be sold, in the discretion of the County Commissioners,
at public or private sale, provided that no bonds shall be sold at less
than par; that any bonds sold under the authority hereby conferred
shall be exempted from the provisions of Sections 10 and 11 of
Article 31 of the Annotated Code of Maryland (1957 Edition), and
said bonds and the coupons attached thereto and the interest payable
thereon shall be and remain forever exempt from State, County and
Municipal taxation in the State of Maryland.

Sec. 4. And be it further enacted, That the proceeds of the sale
of said bonds shall be paid to the Treasurer of Charles County and
shall be placed in a special fund by the County Treasurer, and shall
be paid out by him only on warrants from the County Commis-
sioners, which warrants shall be issued only upon proper vouchers
presented by the Board of Education of Charles County for the pur-
poses mentioned in Section 1 of this Act.

Sec. 5. And be it further enacted, That for the purpose of pay-
ing the principal and interest on said bonds, the County Commis-
sioners of Charles County are hereby authorized, empowered and
directed to levy in each year so long as any of said bonds are out-
standing and unpaid, an ad valorem tax on all property subject to
taxation within Charles County, sufficient in rate and amount to pay
the interest payable in said year on all outstanding bonds and the
principal of all bonds maturing in said year, the proceeds of said
tax to be kept in a special fund and in no case to be used for any
other purpose. In case such bonds shall be issued in any year after
the making of the regular levy for that year, then the County Com-
missioners of Charles County are empowered, authorized and directed
to pay any and all interest becoming due before the next levy, out
of any other funds at their disposal, and to levy at the next succeed-
ing levy an amount sufficient to reimburse such other funds.

Sec. 6. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 17, 1963.

CHAPTER 297
(Senate Bill 449)

AN ACT to repeal Section 496 of the Code of Public Local Laws of
Washington County (1957 Edition, being Article 22 of the Code