SPIRO T. AGNEW, Governor                      1501

Twenty-Five Thousand Dollars ($325,000.00). The bonds shall bear
interest at a net average rate not in excess of six per centum (6%)
per annum for the entire issue, as shall be provided by resolution of
said County Commissioners, and installments of interest may be
evidenced by semi-annual coupons attached to said bonds bearing
the facsimile signature of the Treasurer of Caroline County. If
such bonds are issued, such issue and sale shall be subject to the
provisions of Sections 8 to 18, inclusive, of Article 31 of the Annotated
Code of Maryland (1957 Edition, as supplemented).

Sec. 3. And be it further enacted, That for the purpose of paying
the interest on said bonds, and for redeeming the same as they
mature and become payable, the County Commissioners of Caroline
County shall levy annually a tax upon the assessable property in
said Caroline County sufficient to pay the annual interest on said
bonds and to redeem the same as they become due, until all of said
bonds shall mature and be redeemed. The taxes so levied shall be
collected in the same manner as other taxes are levied and collected
in said county.

Sec. 4. And be it further enacted, That out of the actual cash
proceeds from the sale of any of said bonds shall be paid first
the cost of printing and other outlays and expenses and charges
connected with the issue of the same, and the entire balance of
said actual cash proceeds, together with any interest that may be
received on the same, shall be retained by the County Treasurer of
Caroline County until needed for the purposes as in this Act here-
inbefore specified.

Sec. 5. And be it further enacted, That in the event that any of the
persons designated to sign said bonds be unable for any reason
to do so, the County Commissioners shall by resolution authorize
the execution thereof by some other member or officer, and such
execution shall be valid and sufficient for all purposes as if the
bonds had been executed by the person or persons originally
designated herein. Should any person signing said bonds die or
become incapacitated, or should he cease to be an officer or a com-
missioner, before the delivery of the bonds, such signature shall
nevertheless be valid and sufficient for all purposes and shall
be equally effective to bind the County Commissioners of Caroline
County as if delivery had been made before such death, incapacity,
or expiration, or other termination of the term of office.

Sec. 6. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved May 7, 1968.

CHAPTER 735
(House Bill 917)

AN ACT to repeal and re-enact, with amendments, Sections 3(b) (1),
3(b) (2), and 3(c) of Article 95A of the Annotated Code of Mary-