Marvin Mandel, Governor                         745

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1970.

Approved April 22, 1970

CHAPTER 346
(House Bill 521)

AN ACT to authorize and empower the County Commissioners of
Talbot County, from time to time, to borrow not exceeding Two
Million Dollars ($2,000,000) in order to finance the construction,
improvement or extension of public schools in Talbot County, in-
cluding acquisition of land therefor, and to effect such borrowing
by the issuance and sale at public or private sale of its general
obligation bonds in like par amount; empowering the County to
fix and determine, by resolution, the form, tenor, interest rate or
rates or method of determining the same, terms, conditions,
maturities and all other details incident to the issuance and sale
of the bonds; empowering the County to issue refunding bonds for
the purchase or redemption of bonds in advance of maturity; em-
powering and directing the County to levy, impose and collect,
annually, ad valorem taxes in rate and amount sufficient to provide
funds for the payment of the maturing principal of and
interest on the bonds; exempting the bonds and refunding bonds,
and the interest thereon and any income derived therefrom, from
all State, county, municipal and other taxation in the State of
Maryland; relating generally to the issuance and sale of such
bonds, and repealing Chapter 749 of the Laws of Maryland of
1968.

Section 1. Be it enacted by the General Assembly of Maryland,
That, as used herein, the term "County" shall mean the body politic
and corporate of the State of Maryland known as the County Com-
missioners of Talbot County, and the term "construction of public
schools" shall include the construction, reconstruction, improvement,
extension, acquisition, alteration, repair and modernization of public
school buildings or buildings for school purposes in Talbot County,
including sites therefor, architectural, engineering and landscaping
services, and furnishing and equipping such schools.

Sec. 2. And be it further enacted, That the County is hereby
authorized and empowered to finance the construction of public
schools, as defined in Section 1 of this Act, for the use of the Board
of Education of Talbot County, to borrow money and incur indebt-
edness for that purpose, at one time or from time to time, in an
amount not exceeding, in the aggregate, Two Million Dollars
($2,000,000), and to evidence such borrowing by the issuance and
sale upon its full faith and credit of general obligation bonds in
like par amount, which may be issued at one time or from time
to time, in one or more groups or series, as the County may
determine.