Marvin Mandel, Governor                         807

tion of definitive bonds or obligations, issue interim certificates or
temporary bonds, with or without coupons, exchangeable for defin-
itive bonds when such bonds or obligations have been executed and
are available for delivery, provided, however, that any such interim
certificates or temporary bonds shall be issued in all respects subject
to the restrictions and requirements set forth herein. The County
may, by appropriate resolution, provide for the replacement of any
bonds issued hereunder which shall have become mutilated or be
destroyed or lost upon such conditions and after receiving such in-
demnity as the County may think it proper and necessary to stipulate
and require.

Sec. 8. And be it further enacted, That, any and all obligations
issued pursuant to the authority of this Act, their transfer, the
interest payable thereon, and the income derived therefrom in the
hands of the holders thereof from time to time (including any profit
made in the sale thereof) shall be and are hereby declared to be at
all times exempt from taxation of every kind and nature whatsoever
by the State of Maryland or by any of its political subdivisions, or by
any town or incorporated municipality or by any other public agency
within the State of Maryland.

Sec. 9. And be it further enacted, That, the authority to borrow
money and issue bonds conferred on the County by this Act shall be
deemed to provide an additional and alternative authority for bor-
rowing money and shall be regarded as supplemental and additional
to powers conferred upon the County by other laws and shall not be
regarded as in derogation of any power now existing; and all Acts
of the General Assembly of Maryland heretofore passed authorizing
the County to borrow money are hereby continued to the
extent that the powers contained in such Acts have not heretofore
been exercised, and nothing herein contained shall be construed to
impair, in any way whatsoever, the validity of any bonds which may
have been issued by the County under the authority of any of said
Acts, and the validity of said bonds is hereby ratified, confirmed and
approved. This Act, being necessary for the welfare of the inhabi-
tants of Carroll County, shall be liberally construed to effect the
purposes hereof. All Acts and parts of Acts inconsistent with the
provisions of this Act are hereby repealed to the extent of such
inconsistency.

Sec. 10. And be it further enacted, That this Act shall take effect
on the first day of June, 1970.

Approved April 22, 1970

CHAPTER 401
(House Bill 371)

AN ACT to repeal Section 204 of Article 41 of the Annotated Code
of Maryland (1957 Edition, 1965 Replacement Volume and 1969
Supplement), title "Governor—Executive and Administrative
Departments," subtitle "Department of Correction," and to enact