Marvin Mandel, Governor                          39

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 16
(House Bill 13)

AN ACT to repeal and re-enact, with amendments, Sections 1 and 2
of Chapter 100 of the Acts of the General Assembly of 1969,
amending the law which authorized the issue of certain public
school bonds in AND NURSING HOME BONDS BY Caroline
County in order to remove therefrom certain references therein
to a net average interest rate thereon.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 1 and 2 of Chapter 100 of the Acts of the General
Assembly of 1969 be and they are hereby repealed and re-enacted,
with amendments, to read as follows:

1.

The County Commissioners of Caroline County be and they are
authorized and empowered to borrow at one time or from time to
time, upon the full faith and credit of Caroline County, and to issue
and sell at one time or from time to time its bonds therefor, a sum or
sums of money not to exceed Nine Hundred Thousand Dollars
($900,000.00) [at a net average interest rate not in excess of six per
centum (6%) per annum for the bonds issued and sold at any one
time] for the purposes of designing, constructing, equipping and land-
scaping and completing and improving public schools and designing,
constructing and equipping a nursing home in Caroline County, in-
cluding as to each architects and other professional fees in connec-
tion therewith. The money raised by the bond issue authorized by
this Act shall be expended for the above purposes and shall be allotted
among such purposes as the County Commissioners of Caroline
County may provide. Such bonds shall be designated, shall be of such
denomination or denominations and of such type or form, and shall
be of such periods of maturity, not exceeding twenty-five (25) years,
all as the County Commissioners of Caroline County may by reso-
lution provide, provided, however, that the first maturity shall be
within five (5) years of the date of such bonds, and the proceeds of
such sale or sales shall be spent in accordance with the provisions
hereof. The said borrowing and every bond, coupon or other evi-
dence thereof, and the interest payable thereon, shall be and remain
exempt from taxation by the State of Maryland and by the counties
and municipalities of said State.

2.

Said bonds shall be signed by the President of said County Com-
missioners of Caroline County and the Treasurer of Caroline County,
with the seal of Caroline County or a facsimile thereof affixed thereto.
Said bonds shall be payable at such place and on such date or dates