EDWIN WARFIELD, ESQ., GOVERNOR.

957

WHEREAS, In the exercise of the authority conferred upon

them by said Act, the said Mayor and City Council have bor-

Certain other

rowed money only to the amount of fifteen thousand dollars

improvements

and have issued bonds only to that extent, and it is now deemed

to the best interests of said Ocean City that cerain other public

improvements be made by said Mayor and City Council ; and

WHEREAS, There is grave doubt of the authority of the said

Mayor and City Council to borrow additional money and issue

Doubt as to
authority.

additional bonds under the provision of said Acts for any

purposes other than those connected with said water works

and sewerage system; therefore,

SECTION I. Be it enacted by the General Assembly of Mary-

land, That for the purpose of providing funds for the improve-
ment of the public streets, avenues, lanes, alleys and ways of

Municipality-
authorized to
borrow

said city and for any other public improvements, works or re-

money.

pairs that in the discretion of the Mayor and City Council of

Ocean City may seem advisable and for the interests of the

said city, the said Mayor and City Council of Ocean City are

hereby authorized in their discretion to borrow upon the

credit of the city of Ocean City an additional amount not ex-

ceeding the sum of five thousand dollars (it being expressly

the intention of this Act to limit the total authorized bonded

indebtedness of said city to the time of the passage of this Act

to the total amount of twenty thousand dollars), and to issue

coupon bonds therefor in sums not less than one hundred

dollars, and not more than one thousand dollars each, to be

signed by the Mayor of said city and to be countersigned by

the treasurer of said corporation with the seal of said city

attached; said bonds shall bear interest at the rate of six per

Bonds exempt-

centum per annum, payable semi-annually, and on the first day

ed from tax-
ation.

of January and July of each and every year until the said bonds

are paid; said bonds shall be forever exempt from all taxation

whatsoever, and shall have printed on them a distinct reference

to the Act directing their issue.

SEC. 2. And be it enacted, That said bonds shall be issued

in series from sixteen to twenty inclusive, according to the

To be issued

aggregate amount issued, each series consisting of one thou-

in series.

sand dollars of said amount, and shall be redeemable as fol-

lows: One thousand dollars thereof on the first day of Jan-

uary in the year 1926, and thereafter annually one thousand

dollars in each and every year until the whole amount so issued

shall have been paid, and said bonds shall be sold at public