603

LAWS OF MARYLAND.

SEC. 3. And be it enacted, That said bonds may be issued at

such time as the mayor and council of Oakland in its discretion

may determine, to mature at such date as shall not require the

payment in any one year of more than one thousand dollars of

the principal sum thereof, and said bonds shall be redeemable at

Issue,

the pleasure of the mayor and council of Oakland at or before

their maturity, and said bonds shall be issued so that none of

them will mature before the first day of June in the year nine-

teen hundred and five.

SEC. 4. And be it enacted, That to redeem said bonds the mayor

and council of Oakland is authorized and shall annually levy upon

To re-
deem.

the assessable property in town a tax sufficient to pay the interest
upon the bonds so issued under the provisions of this act, and so-

much of the principal thereof as shall annually mature according

to the respective tenor of the aforesaid bonds, and said levy shall

be designated as the "Bonded debt."

SEC. 5. And be it enacted, That the proceeds arising from the

A fund.

sale of said bonds shall as soon as received be retained and kept

as a fund for the payment of the floating debt of said town, and

the improvement of the public streets in said town and said fund

shall be used for no other purpose.

SEC. 6. And be it enacted, That said bonds shall not be taxed

Exempt

for municipal purposes, but they shall be free and exempt from

from taxes

any and all taxes for town purposes whatever.

SEC. 7. And be it enacted, That said bonds shall be so issued

Fenod.

that none of them shall run longer than twenty-five years after

their date before maturity.

SEC. 8. And be it enacted, That the mayor and council of Oak-

To give ef-

land is hereby authorized to pass all such ordinances as may be

fect.

necessary to give full force and effect to the powers granted by

this act.

Effective.

SEC. 9. And be it enacted, That this act shall take effect on the

first day of May next.

Approved April 8, 1890.

CHAPTER 531.

AN ACT to repeal section thirty-five, of article ten, of the Code

of Public Local Laws, title " Dorchester County, " sub-title

" Birds and Game, " and re-enact the same with amendments.

SECTION 1. Be it enacted ly the General Assembly of Maryland,

Repeal.

That section thirty-five, of article ten, of the Code of Public

Local Laws, title "Dorchester county," sub-title "Birds and

Game, " be and the same is hereby repealed and re-enacted.