JOHN WALTER SMITH, ESQ., GOVERNOR.

drainage, the Mayor and City Council be and they are
hereby authorized and empowered to borrow money on the
credit of the town to an amount not exceeding thirty-five
thousand dollars, and to purchase or construct an electric
light plant to light the streets of said town, a sum not exceed-

217

ing ten thousand dollars, and to issue the registered bonds
of said town in payment of the sum so borrowed. The said
bonds shall be for sums not less than one hundred dollars
nor more than one thousand dollars each, to be signed by
the Mayor and countersigned by the Clerk to the City
Council, with the corporate seal of said town there to be
affixed, and to be registered by said Clerk and the Treasurer
of the said town in a separate book, to be specially provided
for the purpose. The said bonds shall be issued at such time
as the said Mayor and City Council shall determine, provided

Issue bonds.

that the date of the issue thereof shall not be later than the
first day of January, nineteen hundred and one; they shall
bear interest at the rate of four per cent, per annum, said
interest to be paid semi-annually, beginning six mouths from
the date of their issue; shall be payable as to the principal
thereof in forty years from the date of their issue; shall be
forever exempt from all county and municipal taxation for
any purpose, and shall have printed on them a distinct refer-
ence to the Act of Assembly authorizing the issue thereof.

Rate of
interest.

SEC. 2. And be it enacted, That the Mayor of the said
town and the three members of the City Council elected and
hereafter to be elected to represent the three wards, together
with Charles H. Stanley, Henry C. Frost, Philip P. Castle
and John W. Whiteside, citizens and taxpayers of said
town, shall be and they are hereby constituted the Water
Board of Laurel, and as such Water Board, they are
hereby authorized and empowered to construct and erect
water works for the said town, and to contract for the purchase
in fee simple or lease for a term of years, renewable at
their pleasure, any land, real estate, spring, brook and
watercourse, and to use and occupy forever or for a term
of years any land, real estate, spring, brook or water-
course which they may deem expedient and necessary for
the purpose of furnishing said town with water, and they are
hereby vested with all the rights and powers necessary for
the introduction of water in said town. If for any cause
the said Water Board of Laurel shall be unable to agree
with any owner of real or leasehold, spring, brook, water or
watercourse or any other material which partakes of or is a
part of realty, or for any right-of-way which they find necessary

Water Board
of Laurel.
Erect Water
Works, etc,