1672                           LAWS OF MARYLAND                      [CH. 773

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved May 14, 1969.

CHAPTER 773
(House Bill 1428)

AN ACT to authorize and empower the Board of County Commis-
sioners of Charles County to borrow one and one-half million dol-
lars ($1,500,000) upon the credit of the County and to issue bonds
or notes therefor and to levy county taxes to pay the principal of
and the interest of such bonds or notes.

Section 1. Be it enacted by the General Assembly of Maryland,
That the Board of County Commissioners of Charles County is
hereby authorized and empowered to borrow at such time or times
as it may be decided upon the faith and credit of the county a sum
or sums of money not to exceed one and one-half million dollars
($1,500,000) at a rate of interest not to exceed five and one-half per
centum (5½%) per annum for the purpose of extending, improving,
constructing and repairing an addition to Physician's Memorial Hos-
pital in Charles County, the particular purpose or purposes to be
determined by the said Board.

Sec. 2. And be it further enacted, That the said Board of County
Commissioners is hereby authorized to borrow under the provisions
of this Act from such bank, banker or trust company or from any
other source as it may from time to time select. The said Board is
authorized to execute and deliver negotiable promissory notes, cer-
tificates of indebtedness or bonds of the County Commissioners of
Charles County to be signed by the Chairman of the Board with the
seal of the County affixed thereto in such denomination or denomi-
nations payable at such place and at such date or dates as the said
Board shall by resolution provide and/or to issue and sell said notes,
certificates of indebtedness or bonds upon the faith and credit of
Charles County in such amount or amounts as the Board shall deter-
mine, not in excess of a total amount of one and one-half million
dollars ($1,500,000). The said notes, certificates of indebtedness
and/or bonds shall bear interest at such rate or rates not exceeding
five and one-half per centum (5½%) per annum as shall be provided
by resolution of the Board, and in the event of the issuance of bonds,
to be evidenced by semi-annual coupons attached to the bonds and
bearing the facsimile signature of the Chairman of the Board.
After bonds are issued, the provisions of Sections 10 and 11 of Arti-
cle 31 of the Annotated Code of Maryland (1967 Replacement Vol-
ume as amended) shall be complied with. The Board is authorized
to borrow under the provisions of this Act by selling the negotiable
promissory notes, certificates of indebtedness and/or bonds herein
authorized at a discount less than the principal amount thereof pro-
vided that such discount shall not exceed five and one-half per centum
(5½%) on the principal of the loan. The said loan and every part
thereof and every note, bond, coupon or other evidence thereof