CITY OF CUMBERLAND. 329

years from the date of issue, and to sell the same in whole or in parts,
and to apply the proceeds thereof as hereinafter provided; said bonds to
be of the denomination of one thousand ($1,000.00) dollars each, and shall
be exempt from city, county and State taxes, and shall bear interest at
the rate of not more than 5 per cent, per annum, payable semi-annually,
and for which proper interest coupons are to be attached to said bonds;
said bonds shall be signed by the Mayor of the City of Cumberland, and
duly attested by the City Clerk, with the corporate seal of the City there-
unto atached.

This Act held valid in Finan v. Cumberland, 154 Md. 563.

1927, ch. 411, sec. 2.

150. For the purpose of paying the interest upon said bonds and re-
tiring said bonds at maturity, said Mayor and City Council of Cumber-
land shall assess against the assessable property in the City of Cumber-
land in each year during the continuance of said bonds a sum of money
sufficient to pay the interest upon said bonds, and a further sum of ten
thousand ($10,000.00) dollars to be paid to the Trustees of the Sinking
Fund of the City of Cumberland for the purpose of finally retiring said
bonds after they mature. And it shall be the duty of the Trustees of the
Sinking Fund to invest such sums so paid to them for said purpose, to-
gether with all interest which may accrue, in proper securities, and shall
have power to purchase bonds issued hereunder for said Sinking Fund.

1927, ch. 411, sec. 3.

151. The Mayor and City Council of Cumberland shall cause proper
advertisement to be made stating the time and place where bids, condi-
tioned as said Mayor and City Council may require, will be opened, for
the sale of said bonds as a whole or in parts, reserving unto itself the
right to reject any and all bids. Said bids, together with such certified
checks as may be required, shall be filed with the City Clerk, and at the
time and place advertised, shall be opened by him in the presence of the
Mayor and City Council, and if said bids be satisfactory to the Mayor
and City Council, it shall sell said bonds, or any part thereof, to the
highest bidder or bidders therefor, of whose ability to comply with the
terms of sale the said Mayor and City Council, in its discretion, is satisfied.

1927, ch. 411, sec. 4.

152. In the event the said Mayor and City Council of Cumberland
shall sell the bonds herein authorized, or any part thereof, for the pur-
pose of erecting the Memorial Hospital hereinafter referred to, then and
in that event the said Mayor and City Council of Cumberland is hereby
authorized and directed, for the purpose of furnishing further hospitaliza-
tion in or near the City of Cumberland, to advance to the Allegany Hos-
pital of the Sisters of Charity, Inc., from the proceeds of the sale of said
bonds the sum of one hundred thousand dollars ($100,000.00), provided
that the same shall be used by the said Allegany Hospital of the Sisters