3078 ARTICLE 14.

The amount so paid over shall be charged against, and taken out of, the
taxes levied for road purposes, by said County Commissioners, for use
in the Second Election District of said Howard County. The Commis-
sioners of Ellicott City shall set aside this amount of money in a special
fund to be used for repairing, maintaining and building roads, streets,
avenues, lanes, alleys, sidewalks and bridges within the corporate limits

of Ellicott City; and, in the discretion of said Commissioners, for the
redemption of any bonds hereafter issued on the credit of said City.
Ellicott City v. Howard Co., 127 Md. 578.

1914, ch. 836, sec. 81M.

167. It shall be the duty of the registrar of Ellicott City to deposit the
funds of the Corporation of Ellicott City, growing out of taxes levied by
the Commissioners of Ellicott City, licenses of every description, the road
fund received from the Commissioners of Howard County, and all money
whatsoever belonging to the corporation of Ellicott City in some bank,
banks or trust company to be designated by the Commissioners of Ellicott
City.

WATER.
1914, ch. 836, sec. 81N.

168. Upon petition of a majority of the resident taxpayers on real

estate in Ellicott City, the Commissioners of Ellicott City are hereby au-
thorized and directed, for the purpose of establishing, constructing and
maintaining a water plant or works capable of furnishing the residents
of Ellicott City with a good and sufficient supply of water for ordinary
purposes, and for fire protection to issue coupon bonds in the name of the
Commissioners of Ellicott City in an amount not exceeding Thirty Thou-
sand ($30,000.00) Dollars, or so much thereof as may be necessary for
the purpose aforesaid. Said bonds shall be for sums not less than One
Hundred ($100.00) Dollars nor more than Five Hundred ($500.00) Dol-
lars, each to be signed by the President of the Commissioners of Ellicott
City and countersigned by the City Register, and with the corporate seal
of said City affixed, and shall be consecutively numbered as same shall be
issued. Said bonds shall be issued at such time or times as the Commis-
sioners of Ellicott City shall determine, and they shall bear interest at a
rate of not more than five (5%) per centum per annum, payable semi-
annually, at such place or places as said Commissioners of Ellicott City
shall designate. Said bonds shall be so issued that the sum of One Thou-
sand ($1,000.00) Dollars thereof shall be due and payable two (2) years
from the date of issue and so that thereafter the same shall mature and be
payable each consecutive year to the extent of One Thousand ($1,000.00)
Dollars per year, in the order of their consecutive numbers; provided,
however, that the Commissioners of Ellicott City are hereby given the
option to redeem any or all of said bonds outstanding fifteen years from
the date of issue, and that all of said bonds issued as aforesaid shall be
due and payable thirty-one (31) years from the date of their issue. Said
bonds shall forever be exempt from all County, State and municipal taxes,