820 LAWS OF MARYLAND. [Ch. 562]

in Somerset county, be and they are hereby authorized and
empowered, in their discretion, provided the election hereinafter
directed results favorably thereto, to make and issue, at such
time or times as the said President and Commissioners may
deem necessary, bonds, either coupon or registered, to be called
"Princess Anne Improvement Bonds," to an amount not exceed-
ing ten thousand dollars, in sums of not less than one hundred
nor more than five hundred dollars, each, to be signed by the
President of said corporation and countersigned by the clerk
thereof, with the seal of said corporation affixed, and to bear
interest at a rate not to exceed five per cent, per annum, pay-
able semi-annually on the first days of September and March, in
each and every year after date of said bonds, and the coupons
or interest on said bonds shall be received in payment of taxes
due said town, and the said bonds shall be exempt from all
county and municipal taxation.

SEC. 2. And be it enacted, That said bonds shall be issued
to mature as follows—that is to say, five hundred dollars thereof
in the year 1917, and annually thereafter the sum of five hun-
dred dollars every year until all of said bonds shall be matured
and have been paid; but the said corporation shall have the
right, after the expiration of ten years from the date of the
issue of said bonds and public notice by advertisement of its
intention so to do, in all the newspapers of said town once a
week for four successive weeks, six months before the date fixed
for said purpose, to call in and redeem all said issue of bonds,
and it shall be the duty of said corporation to immediately
destroy said bonds when redeemed, and, should said President
and Commissioners, or any person having charge of the bonds or
coupons, suffer the same or any part thereof to be reissued after
payment, the said party or parties so offending shall be deemed
guilty of a misdemeanor and shall be subject to imprisonment,
by Article 27 of the Code of Public General Laws of Maryland,
for embezzlement, and shall be held liable for an amount equal
to that of the coupon or bond so reissued and the costs of the
suit.

SEC. 3. And be it enacted, That the said President and
Commissioners of Princess Anne shall levy annually upon the
assessable property of said town a tax sufficient to pay the
annual interest on all of said bonds remaining outstanding and
not then matured, and in addition thereto shall in the year 1917
and annually thereafter levy a tax sufficient to provide the sum
of five hundred dollars ($500) in each and every year, for the
purpose of redeeming the said bonds, when and as the same
shall mature, as hereinbefore provided.