250 LAWS OF MARYLAND. [Ch. 123]

erecting, building, working, maintaining and keeping in repair
water works in said town of Greensboro, bearing interest at
not more than six per centum per annum, payable semi-annu-
ally in each and every year and dated on the day of their
issue, the same to be exempt from county and municipal taxa-
tion in Caroline county.

SEC. 2. And be it enacted, That the said bonds shall be
issued payable thirty years from the date thereof and redeem-
able any time after ten years from the date thereof, at the
pleasure of the Commissioners of Greensboro, and the said
bonds shall be consecutively numbered as the same shall be
issued.

SEC. 3. And be it enacted, That the said sum of thirty
thousand dollars or so much thereof as will be necessary for
that purpose shall be by the said Commissioners of Greens-
boro, used and applied exclusively to the payment of the costs,
and expenses of erecting, building, working, maintaining and
keeping in repair water works and the plant of the same in
the Town of Greensboro as the said commissioners may order
and direct.

SEC. 4. And be it enacted, That the said Commissioners of
Greensboro are authorized and empowered and required' to
annually levy and collect a special tax of not exceeding fifty
cents on every $100.00 of taxable property within the corporate
limits of Greensboro, to pay the interest on said bonds and
gradually redeem and retire such bonds until they shall all
have been redeemed and retired, and the proceeds of such taxes
shall be collected by said commissioners and forthwith applied
by them to the redemption of said bonds as they shall become
redeemable; and the said taxes are hereby inviolably dedicated
to the payment of interest and principal; said taxes to be levied
and collected as other taxes in said town are levied and col-
lected.

SEC. 5. And be it enacted, That the Commissioners of
Greensboro are hereby authorized and empowered to negotiate,
sell or dispose of the bonds hereinbefore provided for or as many
thereof as they shall deem proper, and with the proceeds thereof
to erect or provide for the erection, building, maintaining and
keeping in repair said water works; provided, however, that no
bonds shall be sold or disposed of for less than their par value,
and the said Commissioners of Greensboro are furthermore
fully authorized to make all necessary rules and regulations and
to pass all necessary ordinances with penalties for their viola-
tion, and to do all other necessary acts for the proper manag-
ing, maintaining and repairing said water works and for the