1284 LAWS OF MARYLAND. [Ch. 771]

SECTIOX. Be it enacted by the General Assembly of Mary-
land, That for the purpose of constructing a sewerage system
for the Town of Hurlock, in Dorchester county, State of Mary-
land, and for improving the streets and highways of said town,
the Commissioners of Hurlock be and they are hereby author-
ized and empowered to borrow money on the faith and credit of
said town, not to exceed in the aggregate the sum of eight thou-
sand dollars ($8,000), and to issue bonds therefor, as herein-
after directed, to be signed by the chairman of said Board of
Commissioners and to be countersigned by the secretary thereof,
with the seal of the said corporation affixed thereto.

SEC. 2. And be it enacted, That the said bonds shall be
issued in denominations of five hundred dollars, with coupons
attached thereto, for the payment of the interest thereon semi-
annually on the first day of January and July in each and every
year until the maturity thereof, said coupons to have the signa-
ture of the town secretary printed or written thereon. Said
bonds shall be dated July, 1, A. D. 1912, shall bear interest
from the date thereof at a rate not exceeding five per cent, per
annum, payable semi-annually as aforesaid, and shall be exempt
from county and municipal taxation. The said bonds shall be
numbered from one to sixteen, both inclusive, and shall be due
and payable in fifteen years from the date thereof, with the
privilege or option to the Commissioners of Hurlock, to pay
the same at any time after five years of their date, or to pay off
and redeem any part thereof at the expiration of a period of five
years from their date; provided, however, that if the said com-
missioners shall exercise such option or privilege of redemption
as to any part of said bonds, less the whole issue, they shall be
required to redeem them according to the numbers thereof,
beginning with number one and so on with reference to their
consecutive number. Whenever said bonds, or any part thereof,
shall have been paid off and redeemed they shall be cancelled
and destroyed by the Commissioners of Hurlock, and a minute
of such cancellation and destruction shall be made on the record
book of the commissioners' office.

SEC. 3. And be it enacted, That when said bonds shall bo
properly prepared and duly executed as herein prescribed, the
said The Commissioners of Hurlock shall advertise the same in
two newspapers printed in Dorchester county, inviting sealed
proposals for the purchase of said bonds, or any part thereof,
with the privilege to said commissioners to reject any and all
bids, provided that they shall be awarded to the highest bidder,
and that all bids, in addition to the purchase price, shall be for
such interest as may have accrued on said bonds after July 1st,