FRANK BROWN, ESQUIRE, GOVERNOR.

451

they are hereby authorized to borrow a sum not exceeding

five thousand dollars on the faith and credit of said city and

issue bonds of indebtedness to pay for the same.

SEC. 2. And be it enacted, That the said bonds shall be of
the denomination of five hundred dollars each, bearing inter-

Bonds for

est at a rate not exceeding six per cent, per annum payable

borrowed
money.

annually, the said bonds to be made payable in equal series

of one, two, three, four, five, six, seven, eight, nine and ten

years from date, the said bonds shall be numbered and

redeemed as numbered, commencing with number 1. pro-

vided, that no bonds shall be sold at less than par.

SEC. 3. And be it enacted, That the said mayor and coun-

cil shall lay a special tax annually to meet and pay the in-

Lay tax.

terest on said bonds, and a special tax the year preceding

to meet and pay the bonds as they become due at the same

time the other taxes are levied.

SEC. 4. And be it enacted, That the said mayor and coun-

cil are hereby authorized and empowered to pass all need-

Govern-
ment of

ful ordinances, rules and regulations for the conduct and

market.

government of said market-house.

SEC. 5. And be it enacted, That the said mayor and coun-

cil shall before buying the said property and before issuing

Popular
vote.

the said bonds, submit the question of issuing the same to

the qualified voters of the city of Salisbury, either at the

general election for city officers, or at a special election for

that purpose, if the mayor and council shall order a special

election and the mayor shall give notice of the time and pur-

pose of the said election, by advertisement in a newspaper

printed in the said city, for two weeks before the election

aforesaid.

SEC. 6. And be it further enacted, That the ballots for or

against the issuing of the said bonds, shall have printed or

Ballots.

written on them, the words, "For the Bonds," or "Against

the Bonds," and the said ballots shall be carefully counted

by the judges of the said election, who shall make return

thereof to the clerk of the Circuit Court for Wicomico

County ; and if it shall be found by the said returns that a

majority of the said votes cast are for the said bonds, then

the mayor and council may at their discretion proceed to

buy the said property, and to borrow the said money, but if

a majority of the said votes shall be against the said bonds

then the mayor and council shall not borrow the saidmonev

or buy the said property.

SEC. 7. And be it enacted, That this act shall take effect

from the date of its passage.

Effective.

Approved April 4th, 1892.