PRINCE GEORGE'S COUNTY. 3957

land, are hereby made valid and binding upon said Mayor and City
Council of Laurel; the water board of Laurel; the treasurer of said town
of Laurel and the other officers and persons mentioned in said Act of As-
sembly and shall have all the powers, rights and privileges granted or con-
ferred to such officers or persons or intended to be conferred by said Act.
The Mayor and City Council of Laurel may at any time in order to ac-
complish the purposes of said Act issue the bonds of said corporation for
an aggregate sum not exceeding forty-five thousand dollars ($45,000)
bearing interest at the rate of four per cent, per annum, payable semi-
annually and payable as to principal forty years after date, in such sums,
in such form, with such authentication, with interest coupons payable at

such place and be disposed of in such manner (at not less than par value)
as the Mayor and City Council of Laurel may determine; provided in
case of issue of other bonds as authorized by this Act, the bonds already
issued shall be immediately cancelled and a record thereof be entered on
the minutes of said corporation.

1901, oh. 5, sec. 2. 1912 Code, sec. 427.

684. All the provisions of said Act in respect to taxation to secure
said bonds, income arising from the water rents, and electric lights, sink-
ing fund, cancellation of bonds purchased or paid, payment of interest,
redemption of bonds, exemption from taxation, disposition of proceeds,

etc., as mentioned in said Act of Assembly shall apply to the bonds already
issued under said Act or to bonds to be issued (in lieu of them) under
the provisions of this Act as the case may be.

1924, ch. 543, sec. 1.

685. The sale by the Mayor and City Council of Laurel of its Munic-
ipally owned Electrical Distribution System to The Annapolis & Chesa-
peake Bay Power Company, a corporation duly incorporated under the
laws of this State made on or before August 13, 1923, and the granting
to said Power Company by the said Municipal Corporation of certain
franchises by ordinance approved August 13, 1923, the sale and accept-
ance and exercise of said franchises having been duly approved by the
Public Service Commission of Maryland, are hereby confirmed and ap-
proved.

1924, ch. 543, sec. 2.

686. The said Power Company is hereby authorized, in order to carry
on and conduct the business for which it was incorporated and to enjoy
the rights, powers, privileges and franchises granted or to be granted to
it, to acquire the lands or property of any individual, firm or corporation
or private rights of way over any such lands or any interests therein as
may be necessary, and if said Company cannot agree with the owner or
owners thereof or if any such owners be unknown or be feme sole and
without power to contract in that regard; under age, non compos mentis,
or under any other legal disability to contract or be out of the County in
which the property may be located the said Power Company shall have