SPIRO T. AGNEW, Governor                      1171

THAT SUCH BONDS SHALL BE DESIGNATED AND KNOWN
AS MEMORIAL HOSPITAL IMPROVEMENT BONDS OF 1968,
AND WHEN ISSUED SHALL BE SIGNED BY THE PRESIDENT
OF THE COUNTY COMMISSIONERS OF ALLEGANY COUNTY,
DULY ATTESTED BY THE CLERK OF THE COUNTY COM-
MISSIONERS, AND THE CORPORATE SEAL OF THE COUNTY
COMMISSIONERS SHALL BE ATTACHED THERETO. THE
INTEREST COUPONS ATTACHED TO EACH OF SAID BONDS
SHALL BEAR THE FACSIMILE SIGNATURE OF THE PRESI-
DENT OF THE COUNTY COMMISSIONERS OF ALLEGANY
COUNTY, PRINTED, LITHOGRAPHED OR ENGRAVED
THEREON.

THAT THE COUNTY COMMISSIONERS OF ALLEGANY
COUNTY BEFORE THE ISSUANCE OF SAID BONDS SHALL
BY FORMAL RESOLUTION PRESCRIBE THE FORM AND
TENOR OF SUCH BONDS; THE DATE OF ISSUE; THE DATE
OR DATES OF MATURITY; AND THE TIME AND PLACE AT
WHICH INTEREST IS TO BE PAID. THE SAID BONDS SHALL
BEAR A RATE OF INTEREST NOT EXCEEDING SIX PER
CENTUM (6%) PER ANNUM, AND SHALL BE OF SUCH DE-
NOMINATION OR DENOMINATIONS, CALLABLE OR NON-
CALLABLE, AND OF SUCH TYPE OR FORM, AND OF SUCH
PERIOD OF MATURITY AS THE COUNTY COMMISSIONERS
OF ALLEGANY COUNTY MAY DEEM ADVISABLE. IF ANY
SUCH BONDS BE SOLD, THE PROVISIONS OF SECTIONS 9,
10 AND 11 OF ARTICLE 31 OF THE ANNOTATED CODE OF
MARYLAND (1957 EDITION, AS AMENDED FROM TIME TO
TIME) SHALL BE COMPLIED WITH. ANY OF THE PRO-
CEEDS OF SAID BONDS REMAINING AFTER THE ACQUI-
SITION OF SAID SUM OF ONE MILLION DOLLARS ($1,000,-
000.00) SHALL BE APPLICABLE TO ALL EXPENSES IN CON-
NECTION WITH SAID BOND ISSUE AND OTHERWISE BE
FOR THE USE OF THE COUNTY COMMISSIONERS OF ALLE-
GANY COUNTY.

SEC. 3. AND BE IT FURTHER ENACTED, THAT ANY AND
ALL OBLIGATIONS ISSUED PURSUANT TO THE AUTHORITY
OF THIS ACT, THEIR TRANSFER AND THE INCOME THERE-
FROM (INCLUDING ANY PROFIT MADE ON THE SALE
THEREOF) SHALL AT ALL TIMES BE FREE FROM TAXA-
TION BY THE STATE OF MARYLAND OR BY ANY OF ITS
POLITICAL SUBDIVISIONS, OR BY ANY TOWN OR INCOR-
PORATED MUNICIPALITY OR BY ANY OTHER PUBLIC
AGENCY WITHIN THE STATE OF MARYLAND.

SEC. 4. AND BE IT FURTHER ENACTED, THAT THE
BONDS HEREBY AUTHORIZED SHALL CONSTITUTE, AND
THEY SHALL SO RECITE, AN IRREVOCABLE PLEDGE OF
THE FULL FAITH AND CREDIT AND UNLIMITED TAXING
POWER OF THE COUNTY TO THE PAYMENT OF THE MA-
TURING PRINCIPAL AND INTEREST OF SUCH BONDS AS
AND WHEN THE SAME RESPECTIVELY MATURE. IN EACH
AND EVERY FISCAL YEAR THAT ANY OF SAID BONDS ARE
OUTSTANDING, THE COUNTY SHALL LEVY OR CAUSE TO
BE LEVIED AD VALOREM TAXES UPON ALL THE ASSESS-
ABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE