JOHN WALTER SMITH, ESQ., GOVERNOR.
ized and duly issued and executed in the manner and form as
by said Act required, and are dated January 1st, 1901, for the
aggregate sum of forty-five thousand dollars; and
WHEREAS, Doubts were suggested as to whether the Mayor
and City Council of Laurel had the express power to issue
said bonds and as to whether the said Act referred to said
town of Laurel, Prince George's County, Maryland, from cler-
ical errors therein, by reason whereof said bonds have not
been sold, money borrowed or improvements made to the great
inconvenience of the inhabitants of the town.
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SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the bonds as authorized by the said resolution or
ordinance of the Mayor and City Council of Laurel, Prince
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George's County, Maryland, be and the same are hereby made
valid and binding upon said Mayor and City Council of
Laurel, body corporate, and the Mayor and City Council of
Laurel, the Water Board of Laurel, the Treasurer of said town
of Laurel, and the other officers and persons mentioned in said
Act of Assembly, shall have all the powers, rights and priv-
ileges granted or conferred to such officers or persons or
intended to be conferred by said Act, in order to accomplish
the purposes of said Act, and the Mayor and City Council of
Laurel may at any time in order to accomplish the purposes of
said Act, issue the bonds of said corporation, for an aggregate
sum not exceeding forty-five thousand dollars, bearing interest
at the rate of four per centum per annum, payable semi-
annually, and payable as to principal forty years after date, in
such sums, in such form, with such authentication, with interest
coupons, payable at such place, and be disposed of in such
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Bonds made,
valid.
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manner (at not less than par value) as the Mayor and City
Council of Laurel, by ordinance, may determine; provided, in
case of the issue of other bonds, as authorized by this Act, the
bonds already issued shall be immediately cancelled and a
record thereof be entered on the minutes of said corporation.
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Authorization
to cancel
bonds.
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SEC. 2. And be it enacted, That all the provisions of said
Act in respect to taxation to secure said bonds, income arising
from the water rents and electric lights, sinking fund, cancel-
lation of bonds purchased or paid, payment of interest,
redemption of bonds, exemption from taxation, disposition of
proceeds, etc., as mentioned in said Act of Assembly, shall
apply to the bonds already issued under said Act, or to the
bonds to be issued (in lieu of them) under the provisions of
this Act, as the case may be.
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Application of
Act to other
bonds.
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