1840                             Laws of Maryland                       Ch. 658

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 denominations 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 determine, 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
(5˝%)] eight per centum (8%) 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 Article 31
of the Annotated Code of Maryland (1967 Replacement Volume as
amended) shall be complied with. The Board is authorized to bor-
row under the provisions of this act by selling the negotiable promis-
sory notes, certificates of indebtedness and/or bonds herein au-
thorized at a discount less than the principal amount thereof pro-
vided that such discount shall not exceed [five and one-half per
centum (5˝%)] eight per centum (8%) on the principal of the loan.
The said loan and every part thereof and every note, bond, coupon
or other evidence thereof and the interest payable thereon shall be
and remain exempt from State, County and municipal taxation.

Sec. 2. And be it further enacted, That (1) this Act shall be
void and of no further effect if at the general election in the month
of November 1970 the voters of Charles County reject on referen-
dum the proposed enactment of Chapter 773 of the Acts of 1969;

(2)  if at that election the voters of Charles County approve on refer-
endum said Chapter 773 of the Acts of 1969, this Act shall take
effect on December 15, 1970, or on the effective date of said Chapter
773 of the Acts of 1969, whichever date may be the earlier; and

(3)  if for any reason whatever, no referendum is held on said Chap-
ter 773 of the Acts of 1969, this Act shall take effect upon whatever
date may be adjudged the final effective date of said Chapter 773
of the Acts of 1969, or upon June 1, 1970, whichever may be the
later day.

Approved May 5, 1970

CHAPTER 658
(House Bill 434)

AN ACT to repeal and re-enact, with amendments, Section 53(5)
of Article 2B of the Annotated Code of Maryland (1968 Replace-
ment Volume), title "Alcoholic Beverages," subtitle "General Pro-
visions on Issue of Licenses," subheading "Prince George's
County—Generally," to clarify the alcoholic beverage laws in
Prince George's County so as to place franchisers, franchisees and
chain store operations under the provisions providing that no per-
son, etc., shall have an interest in more than one alcoholic beverage