J. MILLARD TAWES, Governor                      579

aggregate said notes, certificates of indebtedness or bonds shall not
exceed the sum of four hundred thousand dollars ($400,000.00), and
provided that the said notes, certificates of indebtedness 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 the sale of bonds that said bonds shall be
designated "School Improvement Bonds of Allegany County—1963",
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 Allegany County may deem
advisable, and said bonds shall be signed by the President of said
County Commissioners of Allegany County and the Treasurer of
said County and have the corporate seal of said Allegany 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 8 to 12 inclusive, of the Annotated
Code of Maryland (1957 Edition) shall be complied with.

Sec. 2. And be it further enacted, That the proceeds of the notes,
certificates or bonds, authorized by this Act, shall be expended solely
for and in accordance with the following schedule of enumerated
additions, improvements and repairs to the Allegany County School
System.

1.    Cresaptown Elementary and Junior High School—Addition
and capital improvements.

2.    For FORT Hill High School—Construction of toilet facilities
at Greenway Stadium, bleacher and ground improvements.

3.    Bruce High School—Physical education facilities and field
expansion.

Sec. 3. And be it further enacted, That the proceeds from the
sale of such notes, certificates or bonds shall be placed in a special
fund by the County Treasurer and shall be paid out by him only on
warrants from the Board of Education of Allegany County in ac-
cordance with the schedule enumerated in Section 2 herein, for
additions, improvements and repairs to existing schools and school
facilities in Allegany County.

Sec. 4. And be it further enacted, That for the purpose of paying
the interest on said notes, certificates or bonds and for redeeming
the same as they mature, the County Commissioners of Allegany
County shall annually levy such tax upon the assessable property of
said county as may be necessary to pay the annual interest on said
notes, certificates or bonds and to redeem the same as they become
due until all of said notes, certificates or bonds shall have matured
and been redeemed. The taxes so levied shall be collected in the same
manner as other taxes are levied and collected in said county.

Sec. 5. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 17, 1963.