628                             LAWS OF MARYLAND                      [CH. 279

signature or such facsimile will nevertheless be valid and sufficient
for all purposes the same as if he had remained in office until such
delivery or had taken office prior to said date of issue. The bonds may
be issued in coupon or in registered form, or both, as the County
Commissioners may determine, and provisions may be made for the
registration of any coupon bonds as to principal alone and also as to
both principal and interest, and for the reconversion into coupon
bonds any bonds registered as to both principal and interest, and for
the interchange of registered and coupon bonds. The County
Commissioners may sell any such bonds in such manner either at
public or private sale, and for such price or prices, as it may determine
to be for the best interests of the County, but no such sale shall be
made at a price so low as to require the payment of interest on the
money received therefor at more than [four] five per centum
[(4%)] (5%) per annum, computed with relation to the absolute
maturity of the bonds in accordance with standard tables of bond
values, excluding, however, from such computation the amount of
any premium to be paid on redemption of any bonds prior to maturity.
In the event the County shall sell or offer for sale at public sale any
of the bonds hereby authorized, such sale shall be conducted in the
manner prescribed by Sections 10 and 11 of Article 31 of the
Annotated Code of Maryland (1957 Edition) as said sections may be
amended from time to time. All action which the County Commis-
sioners of Cecil County is authorized by this section to take in the
issue and sale of the bonds hereby authorized, shall be taken by
resolution of the Board of County Commissioners, adopted in
accordance with the established practices of the County.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved April 14, 1967.

CHAPTER 279
(House Bill 725)

AN ACT to repeal and re-enact, with amendments, Section 9(31)
of Article 81 of the Annotated Code of Maryland (1966 Supple-
ment), title "Revenue and Taxes," subtitle "What Shall Be Taxed
and Where," to provide for an exemption from State, County and
local taxation for the real and personal property of the Washington
County Historical Society.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 9(31) of Article 81 of the Annotated Code of Maryland
(1966 Supplement), title "Revenues and Taxes," subtitle "What Shall
Be Taxed and Where," be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

(31) Property, real and personal, owned by the Historical Society
of Frederick County, Inc., the Montgomery County Historical Society,
Inc., the Historical Society of Talbot County, Maryland, Inc., the
Dorchester County Historical Society, Inc., the Historical Society of