524

LAWS OF MARYLAND

Ch. 125

[(k)] (O) Taxes overdue, in arrears, and payable to Kent
County shall bear interest at the rate fixed by the county
commissioners.

[(l)] (P) Taxes overdue, in arrears, and payable to
Allegany County shall bear interest at the rate of 1 1/2 percent
for each month, or fraction thereof, until paid.'

[(m)] (Q) (1) (i) Taxes overdue, in arrears, and payable to
Frederick County shall bear interest at the rate fixed by the
Board of County Commissioners.

(ii) Taxes overdue, in arrears, and payable to
the City of Frederick shall bear interest at the rate fixed by
the Board of Aldermen.

(2)  The rates shall be established prior to the date
that annual real property taxes are levied in Frederick County
and in the City of Frederick.

(3)  The interest rate may not exceed 1 percent per
month or 12 percent per annum.

(R) TAXES OVERDUE, IN ARREARS, AND PAYABLE TO WASHINGTON
COUNTY SHALL BEAR INTEREST AT THE RATE OF 1 PERCENT FOR EACH
MONTH OR FRACTION THEREOF, UNTIL PAID.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 8, 1984.

CHAPTER 126

(Senate Bill 551)

AN ACT concerning

Anne Arundel County----Controller and

Howard County - Investment

FOR the purpose of permitting the Controller of Anne Arundel
County and the Director of Finance of Howard County to
invest, redeem, sell, exchange, and reinvest unexpended or
surplus money in certain accounts, in banker's acceptances,
or repurchase agreements; and making this Act an emergency
measure.

BY adding to