Marvin Mandel, Governor                         469

later than twenty years from the date of their issue, and provided
further that any such bonds shall be issued on the serial maturity
plan; such resolution may fix the denomination or denominations in
which said bonds shall be issued, the interest rate or rates of said
bonds or the manner of determining the same, the manner and place
of payment, the date, place and terms of, the sale of the bonds, and all
details not herein otherwise provided for with respect to the form,
issuance and sale thereof; said bonds shall be signed by the President
of the County Commissioners and by the Treasurer of Charles
County, and the seal of said County shall be affixed thereto. Said
bonds may be made registrable as to principal.

Sec. 3. And be it further enacted, That any bonds issued here-
under may be sold, in the discretion of the County Commissioners, at
public or private sale, provided that no bonds shall be sold at less
than par; that any bonds sold under the authority hereby conferred
shall be exempted from the provisions of Sections 10 and 11 of
Article 31 of the Annotated Code of Maryland (1957 Edition as
amended from time to time), and said bonds and the coupons at-
tached thereto and the interest payable thereon shall be and remain
forever exempt from State, County and Municipal taxation in the
State of Maryland.

Sec. 4. And be it further enacted, That the proceeds of the sale
of said bonds shall be paid to the Treasurer of Charles County and
shall be placed in a special fund by the County Treasurer, and shall
be paid out by him only on warrants from the County Commissioners,
which warrants shall be issued only upon proper vouchers presented
to the County Commissioners for the purposes mentioned in Section
1 of this Act.

Sec. 5. And be it further enacted, That for the purpose of paying
the principal and interest of said bonds, the County Commissioners
of Charles County are hereby authorized, empowered and directed
to levy in each year so long as any of said bonds are outstanding
and unpaid, an ad valorem tax on all property subject to taxation,
within Charles County, sufficient in rate and amount to pay the
interest payable in said year on all outstanding bonds and the
principal of all bonds maturing in said year, the proceeds of said tax
to be kept in a special fund and in no case to be used for any other
purpose. In case such bonds shall be issued in any year after the
making of the regular levy for that year, then the County Commis-
sioners of Charles County are empowered, authorized and direc-
ted to pay any and all interest becoming due before the next levy,
out of any other funds at their disposal, and to levy at the next
succeeding levy an amount sufficient to reimburse such other funds.

Sec. 6. And be it further enacted, That this Act shall take effect

July 1, 1971, unless a referendum petition is filed pursuant to the
provisions of Article XVI, the referendum of the Constitution of
Maryland. If said referendum petition is filed this Act shall not take

effect unless a majority of the votes cast on this measure is cast in

favor thereof as provided by Article XVI, the referendum of the

Constitution of Maryland. This Act shall also be null and void if
the proposed Constitution is adopted by the voters of Maryland at

the special election to be held May 18, 1971.