HARRY HUGHES, Governor

969

and principal as the same become payable; and generally
relating to the issuance and sale of bonds by the Board of
County Commissioners of Washington County.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the County Commissioners of Washington County be
and they are authorized and empowered to borrow at one time or
from time to time, upon the full faith and credit of Washington
County, and to issue and sell at one time or from time to time
its bonds therefor, a sum or sums of money not to exceed
$4,500,000 at a net average interest rate not in excess of 6 11
percent per annum for the bonds issued and sold at any one time,
for the purposes of general public improvements, including, but
not limited to, public school capital improvements and doing
those things that are necessary or appropriate to accomplish the
objects and purposes of the projects, including as to each
architects' and other professional fees in connection therewith.
The money raised by the bond issue authorized by this Act shall
be expended for the above purposes and shall be allotted among
such purposes as the County Commissioners of Washington County
may provide. Such bonds shall be designated, shall be of such
denomination or denominations and of such type or form, and shall
be of such periods of maturity, not exceeding 25 years, all as
the County Commissioners of Washington County may by resolution
provide, provided, however, that the first maturity shall be
within 5 years of the date of such bonds, and the proceeds of
such sale or sales shall be spent in accordance with the
provisions hereof. The borrowing and every bond, coupon, or other
evidence thereof, and the interest payable thereon, shall be and
remain exempt from taxation by the State of Maryland and by the
counties and municipalities of the State.

SECTION 2. AND BE IT FURTHER ENACTED, That the bonds shall
be signed by the President of the County Commissioners of
Washington County and the Treasurer of Washington County, with
the seal of Washington County or a facsimile affixed. The bonds
shall be payable at the place and on the date or dates that the
County Commissioners shall by resolution specify. The bonds shall
bear interest at a net average rate not in excess of 6 11
percent per annum for the entire issue, as shall be provided by
resolution of the County Commissioners, and installments of
interest may be evidenced by semiannual coupons attached to the
bonds, bearing the facsimile signature of the Treasurer of
Washington County. If such bonds are issued, the issue and sale
shall be in accordance with the provisions of Sections 8 to 18,
inclusive, of Article 31 of the Annotated Code of Maryland (1983
Replacement Volume).

SECTION 3. AND BE IT FURTHER ENACTED, That for the purpose
of paying the interest on the bonds, and for redeeming the same
as they mature and become payable, the County Commissioners of
Washington County shall levy annually a tax upon the assessable