334

LAWS OF MARYLAND.

covered a judgment in the Circuit Court for Wash-
ington County, and which has been affirmed by

Preamble.

the Court of Appeals, against the Mayor and
Council of Hagerstown, by which the said Mayor
and Council are required to pay to the said Dechert
as well, the sum of seven thousand and five hun-
dred dollars, as the costs of suit, and the said
Mayor and Council not being able to satisfy the
said payment, and desiring to borrow a sum of

To pay loan.

money sufficient to enable them to pay the same,
and also to provide means tor collecting by taxa-
tion the sum so proposed to be borrowed and paid;
therefore,
SECTION 1. Be, it enacted by the General Assembly
of Maryland, That the Mayor and Council of

Authorized to
borrow.

Hagerstown be and they are hereby authorized
and empowered to borrow a sum of money not ex-
ceeding ten thousand dollars, or to issue bonds not
exceeding in amount the sum of ten thousand dol-
lars, and to be redeemable at the rate or to an
amount not greater than one thousand dollars an-
nually from the date of the issue, the same to bear

Interest.

interest at six per centum per annum, and to be
signed by the Mayor of said town, and by the
clerk of the said Mayor and Council, and to be
sealed with the seal of the said corporation, the
said sum of ten thousand dollars to be appropriated
to the payment of the said judgment and the costs
thereon.

Sec. 2. And be it, enacted, That the Mayor and
Council of Hagerstown be and they are hereby au-

Levy a tax.

thorized and empowered to levy on all of the
assessable property of said town a tax sufficient to
liquidate or pay the said bonds as they shall fall
due, at the rate of one thousand dollars annually,
or in such less sums as may, in the discretion of
the said Mayor and Council, be advisable, and also

Pay interest.

the interest upon the said bonds as it shall accrue
annually, the said tax to be levied and collected as
all other taxes of said corporation are levied and
collected, and to cease when the said sum so bor-
rowed shall be paid or the said bonds redeemed
and cancelled.

Sec. 3. And be it further enacted, That the bonds

Bond exempt'

so issued, and for the purpose aforesaid, be and
they are hereby exempted from all State and