J. MILLARD TAWES, Governor                      861

credit of said County an amount or amounts not exceeding one
million dollars ($1,000,000.00), THREE HUNDRED THOUSAND
DOLLARS ($300,000.00), and to issue bonds therefor, for the
construction, of a community college in Charles County; and
providing for the levy of taxes in Charles County for the payment
of principal and interest on such bonds, and/or the pledging of
the proceeds of school building incentive funds for such purpose.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Charles County be and they are
hereby authorized and empowered to borrow at one time, or from
time to time, on the faith and credit of said County, a sum or sums
not exceeding in the aggregate one million dollars ($1,000,000.00)
THREE HUNDRED THOUSAND DOLLARS ($300,000.00) and to
issue and sell bonds therefor, the proceeds thereof to be used for
the purpose of the construction of a community college in Charles
County, and to pay all expenses, including advertising, printing, and
legal fees, incurred in the issuance and sale of any bonds hereunder,
the said amount so borrowed to be used for no other purpose
whatsoever.

Sec. 2. And be it further enacted, That said County Commis-
sioners shall by proper resolution fix the maturity or maturities of
any such bonds, provided, however, that no bonds so issued shall
mature later than twenty years from the date of their issue, and
provided further that any such bonds shall be issued on the serial
maturity plan; such resolution may fix the denomination or denomi-
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 four per centum (4%)
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
provided for with respect to the form, issuance and sale thereof;
said bonds shall be signed by the President of the County Com-
missioners and by the Treasurer of Charles County, and the seal of
said County shall be affixed thereto. Said bonds may be made
registrable 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 Commissioners,
which warrants shall be issued only upon proper vouchers presented
by the Board of Education of Charles County TRUSTEES OF THE
CHARLES COUNTY COMMUNITY COLLEGE for the purpose
mentioned in Section 1 of this Act.