1272                            LAWS OF MARYLAND                     [CH. 550

and providing for the levy of taxes in Charles County for the pay-
ment of principal and interest on such bonds.

Sec. 2. And be it further enacted, That said County Commis-
missioners shall by proper resolution fix the maturity or maturities
of any such bonds, provided, however, that no bonds so issued shall
mature later than twenty years from the date of their issue, and
provided further that any such bonds shall be issued on the serial
maturity plan; such resolution may fix the denomination or denomi-
nations in which said bonds shall be issued, the interest rate or rates
of said bonds or the manner of determining the same, the manner and
place of payment, the date, place and terms of the sale of the
bonds, and all details not herein otherwise provided for with respect
to the form, issuance and sale thereof; said bonds shall be signed
by the President of the County Commissioners and by the Treasurer
of Charles County, and the seal of said County shall be affixed
thereto. Said bonds may be made registrable as to principal.

Sec. 3. And be it further enacted, That any bonds issued here-
under 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
attached 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 Commis-
sioners, 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 prin-
cipal 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 Commissioners of
Charles County are empowered, authorized and directed to pay any
and all interest becoming due before the next levy, out of any