Marvin Mandel, Governor                           31

Sec. 2. And be it further enacted, That this Act is hereby-
declared to be an emergency measure and necessary for the im-
mediate preservation of the public health and safety and having been
passed by a yea and nay vote supported by three-fifths of all the
members elected to each of the two Houses of the General Assembly,
the same shall take effect from the date of its passage.

Approved by the Governor, December 18, 1969.

CHAPTER 11
(House Bill 5)

AN ACT to repeal and re-enact, with amendments, Section 2 of
Chapter 38 of the Acts of 1966; as last amended by Chapter 766
of the Acts of 1969, removing the maximum interest rate ceiling
on the Cecil County Union Hospitals bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 2 of Chapter 38 of the Acts of 1966, as last amended
by Chapter 766 of the Acts of 1969, be and it is hereby repealed
and re-enacted, with amendments, to read as follows:

Sec. 2. And be it further enacted,, That subject to the limitations
herein contained, the bonds hereby authorized shall be dated, shall
bear interest at such rate or rates, shall mature at such time or times
not exceeding twenty (20) years from their date or dates, as may be
determined by the County Commissioners of Cecil County, and may
be made redeemable before maturity—at the option of the County
Commissioners, at such price or prices and under such terms and
conditions as may be fixed by the County Commissioners prior to the
issuance of said bonds. In the event any such bonds shall be issued
to mature and be payable on the serial maturity plan, then the
schedule of maturities of said issue of bonds shall be so arranged
that one-twentieth (1/20) of the principal amount thereof shall ma-
ture and be retired in each consecutive year accounting from the date
of issue thereof. [The interest to be borne by the bonds of any such
issue shall be limited to such rate or rates as will produce an average
interest cost on said bonds to the County of not exceeding six per
centum (6%) per annum.] The County shall determine the form
and the manner of execution of any of said bonds, including any
interest coupons to be attached thereto, and shall fix the denomina-
tion or denominations of the bonds and the place or places of pay-
ment of principal or interest, which may be at any bank or trust
company within or without the State. The County Commissioners
is hereby empowered to provide that the County seal to be affixed
to said bonds may be imprinted thereon in facsimile, and that all
signatures and counter-signatures on said bonds and the coupons
attached thereto may likewise be in facsimile except that at least one
of said signatures on each bond shall be manually affixed. In case
any official whose signature or facsimile of whose signature shall
appear on any such bonds or coupons shall cease to be such official
before the delivery of such bonds, or shall become such an official
between the date of issue and date of delivery thereof, such signature
or such facsimile will nevertheless be valid and sufficient for all pur-