1618                            LAWS OF MARYLAND                      [CH. 731

described in said resolution. No such refunding bonds shall actually
be delivered to the purchaser or purchasers thereof more than six
(6) months in advance of redemption date or dates of bonds to be
redeemed and refunded and the proceeds of the sale of any such
refunding bonds shall be segregated and set apart by the County
as a separate trust fund to be used solely for the purpose of paying
the purchase or redemption prices of the bonds to be refunded.

Sec. 7. And be it further enacted, That, in the issuance of any of
the bonds authorized hereby, the County may, prior to the prepara-
tion of definitive bonds or obligations, issue interim certificates or
temporary bonds, with or without coupons, exchangeable for defini-
tive 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 respects subject
to the restrictions and requirements set forth herein. The County
may, by appropriate resolution, provide for the replacement 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. 8. And be it further enacted, That, any and all obligations
issued pursuant to the authority of this Act, their transfer, the in-
terest payable thereon, and any income derived therefrom in the
hands of the holders thereof from time to time (including any profit
made in the sale thereof) shall be and are 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
municipal corporations or by any other public agency within the
State of Maryland.

Sec. 9. 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 authorizing
the County to borrow money are hereby continued to the extent that
the powers contained in such Acts have not heretofore been exer-
cized, and nothing herein contained shall be construed to impair, 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 inhabitants of
Dorchester County, shall be liberally construed to effect the purposes
hereof. All Acts and parts of Acts inconsistent with the provisions
of this Act are he