3082 ARTICLE 14.

the Commissioners of Ellicott City; and nothing herein contained shall
be construed in any manner so as to release any person, persons, corpora-
tion or corporations from any debt or obligation now due by him, her, it
or them to the said Mayor and City Council of Ellicott City; and the
Commissioners of Ellicott City shall, by virtue of this Act, succeed to all
the rights, actions, choses in action, suits, obligations, properties and
effects of the corporation heretofore known as the Mayor and City Coun-
cil of Ellicott City; and all ordinances heretofore passed by said Mayor
and City Council shall continue in full force and effect as ordinances of
the Commissioners of Ellicott City in the same manner as though duly
passed by said Commissioners of Ellicott City.

LIGHT PLANT.

1918, ch. 207, sec. 81V.

176. Upon a petition of a majority of the resident taxpayers on real
estate in Ellicott City, the Commissioners of Ellicott City are hereby,
authorized and directed, for the purpose of establishing, constructing and
maintaining an electric light plant capable of furnishing the residents of
Ellicott City and vicinity with a sufficient supply of electric current for
ordinary purposes, to issue coupon bonds in the name of the Commissioners
of Ellicott City. In order to arrive at the amount of bonds to be issued,
after the aforesaid petition has been filed with the said Commissioners,
they shall employ a competent engineer, who shall make a survey of said
Ellicott City, and submit to the said Commissioners an estimate of the cost
of installing such a plant as they desire to install. After said cost has
been submitted by said engineer, bonds in an amount sufficient to cover
the cost of said installation shall he issued. Said bonds shall be for sums
not less than One Hundred ($100.00) Dollars nor more than Five Hun-
dred ($500.00) Dollars, each to be signed by the President of the Com-
missioners of Ellicott City and countersigned by the City Registrar, and
with the corporate seal of said City affixed. They shall be consecutively
numbered as they shall be issued. Said bonds shall be issued at such.
time or times as the said Commissioners 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 Thousand ($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; and, in the order of their maturity, the
interest thereon shall cease; 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 fifty-one (51) years from
the date of their issue. Said bonds shall be forever exempt from County,