J. MILLARD TAWES, Governor                     1299

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 aggregate
One Hundred Thousand Dollars ($100,000), for the purpose of match-
ing State funds under the provisions of the Patuxent River Water-
shed Act of 1961, as contained in Section 411N of Article 66C of the
Annotated Code of Maryland (1957 Edition, as amended from time
to time) for acquiring lands and other properties shown on the
Patuxent River Watershed Plan for Howard County.

Sec. 2. And be it further enacted, That the County Commissioners
of Howard County shall, when they exercise said discretion, by reso-
lution, prescribe the form and tenor of said bonds, the method and
manner of offering the same for sale and the rate 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 Com-
missioners 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 circumstances 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 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 such bonds when issued
shall be signed by the Chairman of the Board of County Commis-
sioners and the corporate seal of the County Commissioners shall
be attached thereto by the clerk of said County Commissioners and
the interest coupons attached to each of said bonds shall bear the
facsimile signature of the Chairman of the Board of County Com-
missioners, printed, lithographed or engraved thereon.

Sec. 4. And be it further enacted, That any bonds authorized by
this Act shall be sold in the manner prescribed in Sections 10 and
11 of Article 31 of the Code of Public General Laws of Maryland,
1957 Edition, and amendments thereto.

Sec. 5. 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 expenses with reference to the issuance of such bonds, be paid
over to the Treasurer of Howard County to be held in a separate
account, subject to the order of the County Commissioners and to
be spent only as provided in Section 1 of this Act.

Sec. 6. And be it further enacted, That until all of the bonds,
certificates of indebtedness, promissory notes or other evidences of
indebtedness issued under this Act have matured and been redeemed,
the County Commissioners of Howard County shall annually levy a
tax upon the assessable property of the County sufficient to pay the
interest on the bonds outstanding and the principal of bonds maturing
during the succeeding year.

Sec. 7. And be it further enacted, That for the purpose of paying
the interest on such bonds as may be issued under the provisions of