SPIRO T. AGNEW, Governor                      1529

United States of America, which may be properly allocable to said
purpose; empowering and directing the County to contract to levy
and to levy, impose and collect annually ad valorem taxes which,
in addition to the State and Federal allotments, if any, will pro-
vide funds sufficient for the payment of said maturing principal
and interest; and exempting the bonds and refunding bonds and
the interest thereon and any income derived therefrom from all
State, county and municipal taxation in the State of Maryland;
and providing that the power to incur indebtedness and issue
bonds therefor under the provisions of this Act is additional and
alternative authority for borrowing money and shall be regarded
as supplemental and additional to powers conferred upon the
County by other laws.

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 of Talbot County, and the term "public schools" shall
include the construction, reconstruction, improvement, extension, ac-
quisition, alteration, repair and modernization of public school build-
ings or buildings for school purposes in Talbot County, including
sites therefor, the cost of acquiring any such sites, architectural and
engineering services, including preparation of plans, drawings and
specifications for such schools and the development of the grounds
and landscaping thereof, and all customary permanent appurtenances
and recreational and pedagogical equipment for such schools.

Sec. 2. And be it further enacted, That the County is hereby au-
thorized and empowered to finance the construction of public schools,
as defined in Section 1 of this Act, for the use of the Board of Edu-
cation of Talbot County and, in order to make such financing pos-
sible, the County is hereby granted the power and authority to
borrow money and incur indebtedness for such purpose, from time
to time, in an amount not exceeding the sum of One Million, Five
Hundred Thousand Dollars ($1,500,000) and to evidence such bor-
rowing by the issuance and sale upon its full faith and credit of its
serial maturity, general obligation, coupon bonds in like par amount,
upon the terms and conditions hereinafter set forth. Such bonds may
be issued from time to time, in one or more groups or series, as funds
for such public school construction or acquisition become necessary,
provided, however, that the total debt which may be incurred pursu-
ant to the authority of this Act shall not exceed One Million, Five
Hundred Thousand Dollars ($1,500,000).

Sec. 3. And be it further enacted, That subject to the foregoing
limitations, the County shall, before borrowing any money or issuing
any bonds pursuant to the authority of this Act, adopt a resolution
describing generally by classes the public school or schools for which
said borrowing or indebtedness is intended, the amount needed for
said purposes, and determining to borrow money or incur indebted-
ness for all or a part of the amount so needed, and to issue its bonds
to evidence such borrowing or indebtedness. Each series or group
of said bonds shall be issued to mature in annual serial installments,
the last installment to mature not later than thirty (30) years from
the date of issue of said group or series. In said resolution, the
County shall fix the annual serial maturity plan with respect to the