1506                            LAWS OF MARYLAND                       CH. 737

CHAPTER 737
(House Bill 1371)

AN ACT to authorize and empower the County Commissioners of
Calvert County to borrow, upon the faith and credit of Calvert
County, an amount or amounts not exceeding Seven Hundred Fifty
Thousand Dollars ($750,000) and to issue bonds therefor for de-
signing, constructing, equipping and acquiring land for an addi-
tion or additions to the Calvert County Court House and renovat-
ing, altering, remodeling, repairing, equipping and landscaping
the Calvert County Court House and to levy taxes on the assess-
able property in Calvert County for the payment of principal
and interest on such bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Calvert County be and they are
hereby authorized and empowered to borrow at one time, or from
time to time, on the full faith and credit of said County, a sum or
sums not exceeding in the aggregate Seven Hundred Fifty Thousand
Dollars ($750,000), and to issue and sell at one time or from time
to time its bonds therefor, the proceeds thereof to be used for the
designing, constructing, equipping and acquiring land for an addi-
tion or additions to the Calvert County Court House and renovating,
altering, remodeling, repairing, equipping and landscaping the Cal-
vert County Court House, and to pay all expenses, including adver-
tising, printing, and legal fees, incurred in the issuance and sale of
any bonds hereunder, the amount so borrowed to be used for no
other purpose.

Sec. 2. And be it further enacted, That such bonds shall be
designated and shall be of such denomination or denominations and
of such type or form, of such periods of maturity, not exceeding
twenty-five (25) years, all as the County Commissioners of Calvert
County may by resolution provide, provided, however, that the first
maturity shall be within five (5) years of the date of such bonds.
The said borrowing, both principal and interest, and every bond,
coupon or other evidence thereof, shall be and remain exempt from
taxation by the State of Maryland by the counties and municipalities
thereof.

Sec. 3. And be it further enacted, That said bonds shall be
signed by the President of said County Commissioners of Calvert
County and the Treasurer of Calvert County, with the seal of Cal-
vert County or a facsimile thereof affixed thereto. Said bonds shall
be payable at such place and on such date or dates as the said
County Commissioners shall by Resolution provide. The bonds shall
bear interest at an average net rate not in excess of six per centum
(6%) per annum for the entire issue, as shall be provided by Resolu-
tion of said County Commissioners, and to be evidenced by semi-
annual coupons attached to said bonds and bearing the facsimile
signature of the President of the County Commissioners of Calvert
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) to the
extent that such Sections are not inconsistent with this Act.