1166 JOURNAL OF PROCEEDINGS [Mar. 30

at an election for Mayor, Counsellor and Aldermen and
approved by them; but shall he held as collateral for the
debt that may be created by the purchase to the amount
of the stock now owned by the city or thatmay hereafter
be acquired; nor shall said stock be alienated or hypothe-
cated for any other debt, except in default of the pay-
ment of the interest or principal of the debt created for
its purchase. The Mayor, Counsellor and Aldermen of
the city of Annapolis shall on or before the second Mon-
day in June, in the year 1900, submit to the qualified
voters of the city of Annapolis the question of municipal
ownership of the stock of the Annapolis Water Com-
pany; and may, in their discretion, require the same
qualifications to vote, thold the election at the same
time, in the same manner as now or may by law
hereafter be ordained for the issuing of municipal bonds;
the election to be held at the same time as the proposed
election for taking the sense of the people as to the issu-
ance of $121,000 worth of bonds, as proposed by Senate
bill No. 108, now pending before the Legislature. In
case said election is held, and if not, then at such time
as the Mayor, Counsellor and Aldermen may determine
within the time limited by this Act, and the qualifications
for voting and the manner of voting shall be the same
as provided in said Senate bill No. 108, and tickets shall
be preptred to take the sense of the voters as "for” and
"against” the purchase of the State's stock in the Annapo-
lis Water Company." If a majority of votes cast is for the
purchase of the State's stock, the Mayor, Counsellor and
Aldermen of the city of Annapolis shall direct the
Finance Commissioners of said city to negotiate for the
purchase of the State's stock with the Board of Public
Works of the State of Maryland and the Board of Public
Works of the State of Maryland are hereby authorized
and, empowered in their discretion to sell the State's
stock in the Annapolis Water Company to the Mayor,
Counsellor and Aldermen of the city of Annapolis for a
sum to be determined between them, so soon as an agree-
ment is reached as to a price to be paidfor the State's
stock, the Mayor, Counsellor and Aldermen of the city of
Annapolis shall notify each stockholder of the price ac-
ceptable by the State, and shall offer to pay the same
price for every share of stock surrendered within thirty
days after notice.