J. MILLARD TAWES, Governor                      201

Dollars ($200,000) at a rate of interest not to exceed five per cent;
and to issue notes and/or bonds therefor, for the purpose of land
acquisition by the Department of Parks and Recreation; and pro-
viding for the levying of taxes by said County Commissioners to
repay the loan and interest thereon, and providing that said loan
and every part thereof and the interest payable thereon, shall re-
main exempt from State, County and municipal taxation.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Harford County be and they are
hereby authorized and empowered to borrow at such time or times
as they may decide, upon the faith and credit of Harford County, a
sum or sums of money not to exceed Two Hundred Thousand Dollars
($200,000.00), at a rate of interest not to exceed five per cent (5%)
per annum, for the purpose of land acquisition by the Department
of Parks and Recreation, to provide parks and recreation, conserve
water and other natural resources, prevent building in undesirable
locations, prevent erosion and floods, and avoid the wasteful exten-
sion of public services.

Sec. 2. And be it further enacted, That the said County Com-
missioners are hereby authorized to borrow, under the provisions of
this Act, from such bank, banker or trust company, or from any
other source, as they shall from time to time select. The said County
Commissioners are authorized to execute and deliver negotiable prom-
issory notes, certificates of indebtedness, or bonds of the County
Commissioners of Harford County, to be signed by the President of
said County Commissioners and the Treasurer or Deputy Treasurer
of Harford County, with the seal of the said County affixed thereto,
in such denomination or denominations, payable at such place and at
such date or dates as the said County Commissioners shall by resolu-
tion provide and/or to issue and sell said notes, certificates of in-
debtedness, or bonds upon the faith and credit of the County in such
amount or amounts as said Commissioners shall determine, but the
total amount of such notes and bonds issued under this Act shall not
exceed Two Hundred Thousand Dollars ($200,000). The said notes,
certificates of indebtedness and/or bonds shall bear interest at such
rate or rates, not exceeding 5% per annum, as shall be provided by
resolution of the County Commissioners, and in the event of issuance
of bonds to be evidenced by semi-annual coupons attached to said
bonds and bearing the facsimile signature of the Treasurer of
Harford County. If bonds are issued, the provisions of Sections 9, 10
and 11 of Article 31 of the Annotated Code of Maryland (1957
Edition), shall be complied with. Said County Commissioners are
authorized to borrow under the provisions of this Act by selling the
negotiable promissory notes, certificates of indebtedness and/or
bonds herein authorized, at a discount less than the principal amount
thereof, provided that such discount shall not exceed 5% per annum
on the principal of said loan. The said loan and every part thereof
and every note, bond, coupon or other evidence thereof, and the
interest payable thereon, shall be and remain exempt from State,
County and municipal taxation.

Sec. 3. And be it further enacted, That the proceeds derived
from said loan shall be turned over to the Department of Parks and
Recreation to be paid out by this Department for the acquisition of
land. SHALL BE MADE AVAILABLE FOR SUCH ACQUISITION