SPIRO T. AGNEW, Governor                       659

Sec. 8. And be it further enacted, That, in the issuance of any
of the bonds authorized hereby, the County may, prior to the prep-
aration of definitive bonds or obligations, issue interim certificates
or temporary bonds, with or without coupons, exchangeable for
definitive bonds when such bonds or obligations have been executed
and are available for delivery, provided, however, that any such
interim certificates or temporary bonds shall be issued in all re-
spects subject to the restrictions and requirements set forth herein.
The County may, by appropriate resolution, provide for the replace-
ment of any bonds issued hereunder which shall have become
mutilated or be destroyed or lost upon such conditions and after
receiving such indemnity as the County may think it proper and
necessary to stipulate and require.

Sec. 9. And be it further enacted, That any and all obligations
issued pursuant to the authority of this Act, their transfer and the
income therefrom (including any profit made on the sale thereof)
shall at all times be free from taxation by the State of Maryland
ISSUED PURSUANT TO THE AUTHORITY OF THIS ACT,
THEIR TRANSFER, THE INTEREST PAYABLE THEREON,
AND THE INCOME DERIVED THEREFROM IN THE HANDS
OF THE HOLDERS THEREOF FROM TIME TO TIME (IN-
CLUDING ANY PROFIT MADE IN THE SALE THEREOF)
SHALL BE AND IS HEREBY DECLARED TO BE AT ALL
TIMES EXEMPT FROM TAXATION OF EVERY KIND AND
NATURE WHATSOEVER BY THE STATE OF MARYLAND or
by any of its political subdivisions, or by any town or incorporated
municipality or by any other public agency within the State of
Maryland.

Sec. 10. And be it further enacted, That the authority to borrow
money and issue bonds conferred on the County by this Act shall be
deemed to provide an additional and alternative authority for bor-
rowing money and shall be regarded as supplemental and additional
to powers conferred upon the County by other laws and shall not
be regarded as in derogation of any power now existing; and all
Acts of the General Assembly of Maryland heretofore passed author-
izing the County to borrow money are hereby continued to the extent
that the powers contained in such Acts have not heretofore been
exercised, and nothing herein contained shall be construed to im-
pair, in any way whatsoever, the validity of any bonds which may
have been issued by the County under the authority of any of said
Acts, and the validity of said bonds is hereby ratified, confirmed and
approved. This Act, being necessary for the welfare of the inhab-
itants of Harford County, shall be liberally construed to effect the
purposes hereof. All acts and parts of acts inconsistent with the
provisions of this Act are hereby repealed to the extent of such
inconsistency.

Sec. 11. And be it further enacted, That this Act shall take effect
July 1, 1968.

Approved April 19, 1968.