1494                             LAWS OF MARYLAND                         CH. 733

broker-dealer or agent in an amount not to exceed $100.00 for each
and every violation of this Act.

Sec. 3. And be it further enacted, That this Act shall take effect
June 1, 1968.

Approved May 7, 1968.

CHAPTER 733
(House Bill 900)

AN ACT to authorize and empower the County Commissioners for OF
Kent County, from time to time, to borrow not exceeding one million
dollars ($1,000,000), to finance the construction, acquisition, im-
provement, extension and maintenance of and acquiring equipment
and other property for public schools in said County, as herein
denned, and to effect such borrowing by the issuance and sale to
the highest bidder or bidders at public sale of its general obligation,
serial maturity coupon bonds in like par amount; empowering said
County to fix and determine, by resolution, the form, tenor, interest
rate or method of arriving at the same, terms, including redemption
and registration provisions, conditions, maturities and all other
details incident or necessary to the issuance, public sale and delivery
of said bonds;, without reference to any other law heretofore en-
acted; prescribing the method and manner of selling said bonds at
public sale; empowering said County, subject to certain limitations,
to sell said bonds at, above or below the par value thereof; em-
powering and directing said County to apply to the payment of
principal and interest of said bonds and said refunding bonds any
funds received from the State of Maryland and the United States
of America, which may be properly allocable to said purpose;
empowering and directing said County to contract to levy and to
levy, impose and collect annually ad valorem taxes which, in addi-
tion to the State and Federal allotments, if any, will provide funds
sufficient for the payment 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; PROVIDING THAT THE POWER TO INCUR IN-
DEBTEDNESS AND ISSUE BONDS THEREFOR UNDER THE
PROVISIONS OF THIS ACT IS ADDITIONAL AND ALTERNA-
TIVE AUTHORITY FOR BORROWING MONEY AND SHALL
BE REGARDED AS SUPPLEMENTAL AND ADDITIONAL
TO POWERS CONFERRED UPON THE COUNTY BY OTHER
LAWS and providing that the effectiveness of this Act is subject
to a referendum.

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 OF Kent County, and the term "public schools" shall
include the construction, reconstruction, improvements, extension,
acquisition, alteration, repair, modernization and maintenance of
and acquiring equipment and other property for public schools in