JOHN WALTER SMITH,' ESQ., GOVERNOR.

CHAPTER 516.
AN ACT to authorize the Mayor and Council of Hagerstown
to issue bonds to pay the town's quota or assessment for the
extension of Prospect street, in said town, northward
between Washington and Church streets, and for the laying
out and grading and macadamizing the same.

S3'

SECTION I. Be it enacted by the General Assembly of Mary-
land, That if by proper proceedings had as now provided by
the Charter of Hagerstown, Prospect street, in said town be
ordered to be extended northward between Washington and
Church streets, that the assessment or quota of assessment
which would fall upon the town for the extension of said
street, its laying out, grading and macadamizing, shall be
paid as provided by law.

Hagerstown.
Extension of
Prospect St.

SEC. 2. That to enable the Mayor and Council of Hagers-
town to meet the amount that may be due and owing by the
town under said assessment, or quota of assessment, the said
Mayor and Council are hereby empowered to borrow a sum
of money not to exceed fifteen thousand dollars, on the faith
and credit of the town, as hereinafter provided, which shall
be known as the "Prospect Street Extension Fund," and war-
rants for the expenditure of said money shall be drawn by the
board of street commissioners, as provided in Section one
hundred and twenty-four of the charter of said town.

Empowered to
borrow a cer-
tain sum of
money.

SEC. 3. The Mayor and Council are hereby authorized to
issue said bonds in such denominations as they may deter-
mine. The said bonds shall be signed by the Mayor and
attested by the Clerk to the Mayor and Council, with the seal
of the town attached, and registered in a book to be kept by
the said Clerk, and to bear interest at a rate not exceeding
four per cent, per annum, payable on the 1st days of January
and July in each and every year until the principal of said
bonds is paid. Said bonds shall be sold at public auction at
such time and in such amounts as shall be required by the
Mayor and Council on demands of the board of street com-
missioners; provided the whole amount of said bonds so
issued shall not exceed the sum of fifteen thousand dollars, as
aforesaid. Said bonds shall not be liable to county or
municipal taxation.

Authority to
issue bonds.

Rate of
interest.

SEC. 4. There shall be levied by the Mayor and Council
annually for three years an amount sufficient to pay the inter-
est on the bonds so issued. At the expiration of three years
there shall be levied annually by the Mayor and Council an

Shall make
levy to pay
interest and
principal.