JOHN WALTER SMITH, ESQ., GOVERNOR.

thirty-two thousand dollars, which said bonds are to bear
interest not to exceed six per cent, per annum interest pay-
able annually.

19

SEC. 2. And be it enacted, That said bonds shall be issued
in denominations of not less than one hundred dollars, nor
more than five hundred dollars, denominated as Union Bridge
Improvement Bonds of 1900, and each bond to be signed by
the mayor and clerk of the said town of Union Bridge, and
attested by the corporate seal of said town and payable twenty-
five years from the date thereof, and be redeemable at the
expiration of five years from date at the pleasure of the Mayor
and Common Council of the town of Union Bridge, Carroll
County, Maryland.

Denomination
of Bonds.

When payable

SEC. 3. And be it further enacted, That the said Mayor and
Common Council of the town of Union Bridge, Carroll County,
Maryland, are hereby authorized and required to sell said
bbonds to the best advantage at public sale at such time and
upon such notice as they may deem expedient; provided,
however, that they shall not sell any of the bonds authorized
to be issued under this Act for less than par or the face value
thereof for cash and current money.

Authority to
sell bonds.

SEC. 4. And be it further enacted, That the money raised
by the issue and sale of said bonds under the provisions of
this Act shall be exclusively appropriated and applied to the
payment of the bonded indebtedness of said Mayor and Com-
mon Council of the town of Union Bridge, Carroll County,
Maryland, accruing under and by virtue of the Act of the
General Assembly of 1884, Chapter twenty-nine.

Payment
Bonded in-
debtedness.

SEC. 5. And be it further enacted, That the Mayor and
Common Council of the town of Union Bridge, Carroll
County, Maryland, shall in each and every year levy upon
the assessable property in the said town of Union Bridge a
sum of money as may be necessary to pay the interest on the
outstanding bonds by them issued in pursuance of this Act,
as the same shall fall due, and also such further additional
sums as may be requisite to gradually retire and redeem such
bonds until they shall have been redeemed; and the said taxes
authorized by this Act shall be collected, as other taxes are
collected, by said Mayor and Common Council of Union Bridge,
Carroll County, Maryland.

SEC. 6. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved February 26, 1900.

Levy to pay
interest.