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310
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LAWS OP MARYLAND.
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able twenty years from the date thereof, and redeemable at any
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Shall
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time after the expiration of ten years from date, at the pleasure
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exempt.
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of the said commissioners of Mechanicstowu, and shall be exempt
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from county and municipal taxation.
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SEC. 4. And le it enacted, That the commissioners of Mechanics-
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town shall provide annually out of the usual tax levy, an amount
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To levy
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sufficient to pay the interest on said bonds, and they shall set
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apart the further sum of forty dollars annually to be invested in
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such securities as they may select, to create a sinking fund for
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the redemption of said bonds.
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SEC. 5. And le it enacted, That the said bonds shall be sold by
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To adver-
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the said commissioners of Mechanicstown at not less than their
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tise.
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face value for cash, after giving at least three weeks' notice by
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advertisement in at least two newspapers published in Frederick
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county.
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SEC. 6. And le it enacted, That at a municipal election to be
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held in Mechanicstown at such time and place as may be fixed
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by an ordinance of said commissioners of Mechanicstown. the
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qualified voters of Mechanicstown shall determine by ballot
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whether the bonds hereinbefore provided, for shall be issued or
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not; at which said election there may be written or printed on
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the ballots of said voters the words "For issue of bonds," or
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To deter-
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"Against issue of bonds," and if a majority of the ballots cast
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mine by
ballot.
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shall contain the words "For issue of bonds," then this act shall
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become operative and binding, but if a majority of said ballots
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shall contain the words "Against issue of bonds," then this act
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shall be void and of no effect, and the judge of said municipal
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election shall return to the president of the board of commis-
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sioners of Mechanicstown the number of ballots cast "For issue
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of bonds," and "Against issue of bonds," respectively, and the
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said president shall announce the result thereof.
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Effective.
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SEC. 7. And be it enacted, That this act shall take effect from
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the date of its passage.
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Approved April 3, 1890.
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