1542                            LAWS OF MARYLAND                       CH. 753

Sec. 3. And be it further enacted, That any bonds issued hereunder
may be sold, in the discretion of the County Commissioners, at
public or private sale, provided that no bonds shall be sold at less
than par; that any bonds sold under the authority hereby conferred
shall be exempted from the provisions of Sections 10 and 11 of
Article 31 of the Annotated Code of Maryland (1957 Edition as
amended from time to time), and said bonds and the coupons at-
tached thereto and the interest payable thereon shall be and remain
forever exempt from State, County and Municipal taxation in the
State of Maryland.

Sec. 4. And be it further enacted, That the proceeds of the sale
of said bonds shall be paid to the Treasurer of Charles County and
shall be placed in a special fund by the County Treasurer, and shall
be paid out by him only on warrants from the County Commissioners,
which warrants shall be issued only upon proper vouchers presented
to the County Commissioners for the purposes mentioned in Section
1 of this Act.

Sec. 5. And be it further enacted, That for the purpose of paying
the principal and interest of said bonds, the County Commissioners
of Charles County are hereby authorized, empowered and directed
to levy in each year so long as any of said bonds are outstanding
and unpaid, an ad valorem tax on all property subject to taxation,
within Charles County, sufficient in rate and amount to pay the
interest payable in said year on all outstanding bonds and the
principal of all bonds maturing in said year, the proceeds of said tax
to be kept in a special fund and in no case to be used for any other
purpose. In case such bonds shall be issued in any year after the
making of the regular levy for that year, then the County Commis-
sioners of Charles County are empowered, authorized and direc-
ted to pay any and all interest becoming due before the next levy,
out of any other funds at their disposal, and to levy at the next
succeeding levy an amount sufficient to reimburse such other funds.

SEC. 6. AND BE IT FURTHER ENACTED, THAT THIS ACT
SHALL TAKE EFFECT JULY 1, 1968, UNLESS A REFEREN-
DUM PETITION IS FILED PURSUANT TO THE PROVISIONS
OF ARTICLE XVI, THE REFERENDUM OF THE CONSTITU-
TION OF MARYLAND. IF SAID REFERENDUM PETITION IS
FILED THIS ACT SHALL NOT TAKE EFFECT UNLESS A
MAJORITY OF THE VOTES CAST ON THIS MEASURE IS CAST
IN FAVOR THEREOF AS PROVIDED BY ARTICLE XVI, THE
REFERENDUM, OF THE CONSTITUTION OF MARYLAND.
THIS ACT SHALL ALSO BE NULL AND VOID IF THE PRO-
POSED CONSTITUTION IS ADOPTED BY THE VOTERS OF
MARYLAND AT THE SPECIAL ELECTION TO BE HELD MAY
14, 1968.

Sec. 6 7. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved May 7, 1968.