704                              Laws of Maryland                      [Ch. 344

lands, grounds, roads, streets, highways and sidewalks in Washington
County. The said term shall further include but not be limited to
the payment of fees for architectural and engineering services inci-
dent thereto and the acquisition and installation of necessary perma-
nent equipment therefor.

Sec. 2. And be it further enacted, That the County Commissioners
of Washington County, a body corporate, in order to finance the
drainage of ground and surface waters in said County, are hereby
authorized and empowered to borrow, from time to time, in such
amounts as it shall deem necessary, money on the faith and credit of
said County, and to issue therefor notes or bonds, provided that in
the aggregate said notes and bonds shall not exceed the sum of One
Million Dollars and provided that said notes and/or bonds shall
bear a rate or rates of interest not exceeding five per centum per
annum; and provided further that if said money or any part thereof
shall be borrowed by a note or notes, such note or notes shall be
signed by the President of the County Commissioners and the Treas-
urer of Washington County and have the seal of said county affixed
thereto; and provided further that if said money or any part thereof
shall be borrowed by the sale of bonds that said bonds shall be
designated "Ground and Surface Water Drainage Bonds of Washing-
ton County," and shall be of such denomination or denominations,
callable or non-callable, and of such type, or form, and of such period
of maturity as the said County Commissioners of Washington County
may deem advisable, and said bonds shall be signed by the President
of said County Commissioners of Washington County and the Treas-
urer of said County and have the corporate seal of said Washington
County affixed thereto, and the principal amount of said bonds and
the interest payable thereon shall be and remain exempt from taxa-
tion by the State of Maryland and by the counties and municipalities
of said State; provided further that if any such bonds shall be sold
the provisions of Article 31, Sections 10 and 11 of the Annotated
Code of Maryland (1971 Replacement Volume) shall be complied with.

Sec. 3. And be it further enacted, That the proceeds of such notes
and/or the proceeds from the sale of such bonds shall be placed into
a "Special Fund" by the County Treasurer and shall be paid out by
him only on warrants from the County Commissioners of Washington
County for such expenditures as it shall deem to be proper, in the
sole discretion of said Commissioners for the drainage of ground
and surface waters in Washington County, as defined in Section 1
of this Act.

Sec. 4. And be it further enacted, That all interest accumulated
on invested funds borrowed under the authority of this Act shall be
paid either into the special drainage fund created by Section 3 hereof
or to or for the payment of the maturing principal and interest on
the bonds hereby authorized as provided in Section 22 of Article 95
of the Annotated Code of Maryland (1969 Replacement Volume),
provided that under no circumstances shall any such accumulated
interest be credited by the county to its general fund and applied to
any purpose other than as provided in said Section 22.

SEC. 5. And be it further enacted, That all bonds issued under the
authority of this Act shall be exempt from taxation by the State
of Maryland and by the counties and municipalities of said State.