112                              LAWS OF MARYLAND                     [CH. 101

annually ad valorem taxes which, in addition to the State and Fed-
eral allotments, if any, will provide funds sufficient for the pay-
ment of said maturing principal and interest; exempting said
bonds and said refunding bonds and the interest thereon from all
State, county and municipal taxation in the State of Maryland;
and providing that the power to incur indebtedness and issue
bonds therefor under the provisions of this Act is additional and
alternative authority for borrowing money and shall be regarded
as supplemental and additional to powers conferred upon the
County by other laws.

Section 1. Be it enacted by the General Assembly of Maryland,
That, as used herein, the term "County" shall mean the body politic
and corporate of the State of Maryland known as the County Com-
missioners for Prince George's County.

Sec. 2. And be it further enacted, That, the County is hereby au-
thorized and empowered to finance the creation and establishment
of a revolving land acquisition fund as provided in Sections 9 and 10
of this act and, in order to make such financing possible said County
is hereby granted the power and authority to borrow money and
incur indebtedness for such purpose, from time to time, in an amount
not exceeding the sum of Two Million Dollars ($2,000,000) and to
evidence such borrowing by the issuance and sale upon its full faith
and credit of its serial maturity, general obligation coupon bonds in
like par amount, upon the terms and conditions hereinafter set forth.
Such bonds may be issued from time to time in one or more groups
or series, as monies for such revolving fund become necessary, pro-
vided, however, that the total debt which may be incurred pursuant
to the authority of this Act shall not exceed Two Million Dollars
($2,000,000).

Sec. 3. And be it further enacted, That, subject to the foregoing
limitations the County shall, before borrowing any money or issu-
ing any bonds pursuant to the authority of this Act, adopt a resolu-
tion describing generally the purposes for which said borrowing
or indebtedness is intended, the amount needed for said purposes,
and determining to borrow money or incur indebtedness for all or a
part of the amount so needed, and to issue its bonds to evidence such
borrowing or indebtedness. Each series or group of said bonds shall
be issued to mature in annual serial installments, the last installment
to mature not later than thirty (30) years from the date of issue
of said group or series. In said resolution, said County shall fix the
annual serial maturity plan with respect to the bonds to be issued
thereunder and said annual serial maturities shall be so fixed as to
conform to the general financial plans of the County but need not be
in equal par amounts or in consecutive annual installments. Subject
to the limitations herein contained, said County shall have and is
hereby granted full and complete authority and discretion to fix
and determine, in said resolution, the form and tenor of any such
bonds, the rate or rates of interest payable thereon, or the method
of arriving at the same, the date or dates upon which said bonds
shall respectively mature and be payable, the manner of selling
said bonds at public sale, and generally all matters incident or neces-
sary to the issuance, sale and delivery thereof. The bonds of each
such issue shall be dated, shall bear interest at such rate or rates