614                             LAWS OF MARYLAND                       CH. 425

PROPOSED SETTLEMENT, IT MAY ENTER AN ORDER AP-
PROVING SUCH SETTLEMENT AND ENTER A JUDGMENT
AGAINST THE COMMISSIONER FOR THE AMOUNT SO
AGREED TO BE PAID THEREUNDER.

(B) IN AN ACTION BROUGHT AGAINST THE COMMIS-
SIONER PURSUANT TO AN ORDER BY THE COURT EN-
TERED IN ACCORDANCE WITH THE PROVISIONS OF SEC-
TION 167, THE INSURER TO WHOM SUCH ACTION HAS
BEEN ASSIGNED MAY SETTLE WITHOUT COURT AP-
PROVAL ANY CLAIM INVOLVING PAYMENT OF $5,000 OR
LESS WITH APPROVAL OF THE CHIEF ADMINISTRATIVE
EMPLOYEE OF THE BOARD AND ANY MEMBER OF THE
BOARD SATISFIED THAT THE CLAIMANT HAS COMPLIED
WITH THE REQUIREMENTS OF SECTION 167.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved April 10, 1968.

CHAPTER 425
(House Bill 383)

AN ACT to repeal and re-enact, with amendments, Section 27-6(c)
and Section 27-6(f) of the Baltimore County Code 1958, title
"Baltimore County," subtitle "Title 27. Revenue Authority," sub-
heading "Issuance of bonds, certificates and other evidence of
indebtedness—Generally" to eliminate the requirement that in-
terest rates on the Authority's revenue bonds not exceed five
per cent.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 27-6 (c) and Section 27-6 (f) of the Baltimore County
Code 1958, title "Baltimore County," subtitle "Title 27. Revenue
Authority," subheading "Issuance of bonds, certificates and other
evidence of indebtedness—Generally" be and the same are hereby
repealed and re-enacted, with amendments, to read as follows:

27-6.

(c) Rate of interest; maturity; denominations; execution. The
revenue bonds, certificates or other evidence of indebtedness of each
issue shall be dated, shall bear interest at such rate or rates [not ex-
ceeding five SIX per centum per annum], payable semiannually and
shall mature at such time or times, not exceeding thirty years from
their date or dates, as may be determined by the authority. The
bonds of each issue may be made redeemable before maturity at the
option of the authority at such price or prices and under terms and
conditions as may be fixed by the authority prior to the issuance of
the bonds. The authority shall determine the form of the bonds,
including any interest coupons to be attached thereto, and shall fix
the denomination or denominations of the bonds and the place or
places of payment of principal and interest which may be at any