MARVIN MANDEL, Governor

39

bonds shall be issued in all respects subject to the
restrictions and requirements set forth herein. The
County may, by appropriate resolution, provide for the
replacement of any bonds issued hereunder which shall be
mutilated, destroyed or lost upon such conditions and
after receiving such indemnity as the County may think it
proper and necessary to stipulate and require.

SECTION 9. AND BE IT FURTHER ENACTED, That any and
all obligations issued pursuant to the authority of this
Act, their transfer, the interest payable thereon, and
the income derived therefrom in the hands of the holders
thereof from time to time (including any profit made in
the sale thereof) shall be and are hereby declared to be
at all times exempt from State, county and municipal
taxation of every kind and nature whatsoever in the State
of Maryland.

SECTION 10. AND BE IT FURTHER ENACTED, That the
authority to borrow money and issue bonds conferred on
the County by this Act shall be deemed to provide an
additional and alternative authority for borrowing money
and shall be regarded as supplemental and additional to
powers conferred upon the County by other laws and shall
not be regarded as in derogation of any power now
existing; and all Acts of the General Assembly of
Maryland heretofore passed authorizing the County to
borrow money are hereby continued to the extent that the
powers contained in such Acts have not heretofore been
exercised, and nothing herein contained shall be
construed to impair, in any way whatsoever, the validity
of any bonds which may have been issued by the County
under the authority of any of said Acts, and the validity
of said bonds is hereby ratified, confirmed and approved.
This Act, being necessary for the welfare of the
inhabitants of Charles County, shall be liberally
construed to effect the purposes hereof. All Acts and
parts of Acts inconsistent with the provisions of this
Act are hereby repealed to the extent of such
inconsistency.

SECTION 11. AND BE IT FURTHER ENACTED, That this
Act shall take effect July 1, 1976.

Approved March 16, 1976.

CHAPTER 25
(House Bill 280)
AN ACT concerning