1246                            LAWS OF MARYLAND                      [CH. 609

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 Annotated Code 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 and by him credited to
the Board of Education of Howard County to be held in a separate
account, subject to the order of the said Board of Education, 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 this Act and redeeming them as they mature, the County Com-
missioners of Howard County shall include in the levy for the year
after their issuance and each year thereafter until they mature and
have been redeemed, an amount which together with any so-called
"Building Incentive Fund" shall be sufficient to pay the annual inter-
est on the bonds and to redeem them as they mature, provided,
however, that the said Board of County Commissioners are hereby
authorized, empowered and directed first to use any monies re-
ceived by it or by the said Board of Education of Howard County
under and by virtue of the provisions of the so-called "Building
Incentive Fund" for public school buildings as made or as may be
made available by law, to pay the interest on and to redeem said
bonds as they mature.

Sec. 8. And be it further enacted, That all bonds issued pursuant
to the authority of this Act, and the interest thereon, and the
income derived therefrom, in the hands of the holders thereof from
time to time, shall be and are hereby declared to be exempt from
State, County and municipal taxation of every kind and nature
whatsoever in the State of Maryland.

Sec. 9. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved April 21, 1967.