40                                LAWS OF MARYLAND                         [CH. 21

County affixed thereto. Said bonds shall be in such denomination or
denominations, payable at such place and on such date or dates as
the said County Commissioners shall by Resolution provide. Said
bonds shall be issued upon the full faith and credit of Caroline County
in such amount or amounts as said Commissioners shall determine,
except that the total amount of such bonds issued under this Act
shall not exceed Three Hundred and Fifty Thousand Dollars ($350,-
000.00). The bonds shall bear interest at an average net rate not
in excess of five per centum (5%) per annum for the entire issue,
as shall be provided by Resolution of said County Commissioners,
and to be evidenced by semi-annual coupons attached to said bonds
and bearing the facsimile signature of the Treasurer of Caroline
County. If such bonds are issued, such issue and sale shall be subject
to the provisions of Sections 8 to 18, inclusive, of Article 31 of the
Annotated Code of Maryland (1957 Edition, as supplemented).

Sec. 3. And be it further enacted, That for the purpose of paying
the interest on said bonds, and for redeeming the same as they mature
and become payable, the County Commissioners of Caroline County
shall levy annually a tax upon the assessable property in said Caro-
line County sufficient to pay the annual interest on said bonds and
to redeem the same as they become due, until all of said bonds shall
mature and be redeemed. The taxes so levied shall be collected in the
same manner as other taxes are levied and collected in said county.

Sec. 4. And be it further enacted, That out of the actual cash pro-
ceeds from the sale of any of said bonds shall be paid first the cost of
printing and other outlays and expenses and charges connected with
the issue of the same, and the entire balance of said actual cash pro-
ceeds, together with any interest that may be received on the same
shall be retained by the County Treasurer of Caroline County until
needed for the purpose as in this Act hereinbefore specified.

Sec. 5. And be it further enacted, That in the event that any of
the persons designated to sign said bonds be unable for any reason
to do so, the County Commissioners shall by Resolution authorize the
execution thereof by some other member or officer, and such execu-
tion shall be valid and sufficient for all purposes as if the bonds had
been executed by the person or persons originally designated herein.
Should any person signing said bonds die or become incapacitated,
or should he cease to be an officer or a commissioner, before the de-
livery of the bonds, such signature shall nevertheless be valid and
sufficient for all purposes and shall be equally effective to bind the
County Commissioners of Caroline County as if delivery had been
made before such death, incapacity, or expiration, or other termina-
tion of the term of office.

Sec. 6. And be it further enacted, That this Act is hereby declared
to be an emergency measure and necessary for the immediate preser-
vation of the public health and safety, and having been passed by a
yea and nay vote supported by three-fifths of the members elected to
each of the two houses of the General Assembly of Maryland, the
same shall take effect from the date of its passage.

Approved April 7, 1964.