578 LAWS OF MARYLAND. [Ch. 406]

CHAPTER 406.

AN ACT to repeal section 97I of Article 21 of the Code of
Public Local Laws of Maryland, title "Talbot County," sub-
title "Easton," as passed by the General Assembly of Mary-
land at the January Session of 1906, Chapter 458, ad to
re-enact the same with amendments.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That section 97I of Article 21 of the Code of Public
Local Laws of Maryland, title "Talbot County," sub-title
"Easton," as passed by the General Assembly of Maryland at
the January Session of 1906, Chapter 458, be and the same is
hereby repealed and re-enacted with amendments, so as to read
as follows:

97I. The bonds of the town issued for improvements 01-
public utilities, as in this act provided, shall be for sums not
less than one hundred nor more than one thousand dollars, each
to be signed by the Mayor and countersigned by the town clerk,
with the corporate seal of the town affixed thereto, and if reg-
istered bonds be issued said bonds shall be registered by the
town clerk in a book specially provided for the purpose; all
such bonds shall be issued at such time after their authoriza-
tion as the Mayor and Council shall determine; shall bear
interest at not more than five per centum per annum, payable
semi-annually at such place as the Mayor and Council shall
designate; shall be exempt from all taxation for State, county
and municipal purposes; shall have printed on them a distinct
reference to the ordinance authorizing their issue and a state-
ment that the proposition for their issue has been legally
approved by the qualified voters of the town; shall have appro-
priately denominated on them some designation of words to
indicate the purpose for which they are issued, and shall be
sold for not less than the par value thereof; all such bonds shall
mature as hereinafter provided and shall be paid by the Mayor
and Council at maturity, and such bonds shall be so prepared
that an amount shall mature each and every year equal to the
whole bonded indebtedness provided for, divided by the total
number of years the last bonds shall have to run; provided, that
the last bond of any issue shall mature in not less than five
years and not more than fifty years from the date of issue, and
the date of issue shall be the same on all bonds issued for any
particular purpose approved and authorized by the qualified
voters of the town; to pay and cancel the said bond's issued
under the powers herein conferred the Mayor and Council shall