J. MILLARD TAWES, GOVERNOR                            315

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1959.

Approved March 24, 1959.

CHAPTER 245
(House Bill 301)

AN ACT to authorize and empower the County Commissioners of
Frederick County to borrow an amount not to exceed One Million
Five Hundred Thousand Dollars ($1,500,000), and to issue notes
and/or bonds therefor, for the purpose of making additions or
alterations to existing school buildings, to acquire land and con-
struct new schools, to purchase equipment and to provide for the
levy of taxes to pay the interest on and to retire said notes and/or
bonds.

Section 1. Be it enacted by the General Assembly of Maryland,
That the County Commissioners of Frederick County, a body cor-
porate, in order to provide funds for the purpose of making additions
or alterations to existing school buildings, to purchase land and
erect thereon new school buildings, to purchase new equipment for
existing and newly constructed schools and to pay architects and
other professional fees in connection with such construction, is
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 Five Hundred Thousand Dollars ($1,500,000.), and
provided that said notes and/or bonds shall bear a rate of interest
not exceeding four per cent per annum; and provided further that
if said money or any part thereof shall be borrowed by note or
notes, such note or notes shall be signed by the President of the
County Commissioners and the Treasurer of Frederick 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 "Public School Bonds
of Frederick County," said bonds shall be serial type bonds, either
registered or coupon, and issued in such denominations and at such
rate of interest, not exceeding 4%, payable semi-annually, as shall
be determined by the County Commissioners of Frederick County,
and shall mature in not exceeding twenty-five years from date of
issue, and shall forever be exempt from State, County and Municipal
taxation. Said bonds shall be signed by the President of the Com-
missioners, with the Corporate Seal of Frederick County attached
thereto, attested by the Treasurer of said County, and if coupon
bonds, the coupons thereon shall be signed by the Treasurer of
Frederick County, or a facsimile of his signature shall be stamped,

Explanation: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.