22 LAWS OF MARYLAND. [CH. 8

the Commissioners of Delmar to arrange for the imposi-
tion and collection of water rates or charges for the con-
sumption of water consumed; exempting said bonds from
taxation; ratifying, confirming and validating all action
taken and bonds issued by the Commissioners of Delmar
pursuant to the provisions of said Chapter 854 of the Acts
of 1945 and providing that any bonds heretofore or here-
after issued by said Town under said Sections 65A and 65BJ
as originally enacted by said Chapter 854 of the Acts of
1945 or as repealed and re-enacted hereby, shall constitute
the valid and binding general obligations of said Town
issued upon its full faith and credit in accordance with
the terms and conditions set forth in said bonds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That sections 65A and 65B of the Code of Public Local
Laws of Maryland (1930 Edition), title "Wicomico County",
sub-title "Delmar", sub-heading "Water", as said sections
were enacted by Chapter 854 of the Acts of 1945, be and
the same are hereby repealed and re-enacted, with amend-
ments, to read as follows:

65A. For the purpose of providing funds for the design,
construction, establishment, purchase or condemnation and
maintenance and operation of a water supply system for
Delmar, Maryland, either alone or jointly with the Mayor and
Council of Delmar, a body politic of the State of Delaware,
as hereinafter set forth, the Commissioners of Delmar are
hereby authorized and empowered to issue bonds upon its
faith and credit from time to time in such amounts as may
be deemed necessary by the Commissioners of Delmar, and to
carry on the said work, but at no time shall the total amount
of such bonds exceed One Hundred Thousand Dollars. The
said bonds to be issued from time to time under this
section shall be either registered or coupon bonds, issued in
such denominations as shall be determined by the Commis-
sioners of Delmar by ordinance, shall bear interest at a rate
not exceeding four per centum (4%) per annum, payable
semi-annually, shall all be serial type bonds, and shall all
mature in not exceeding forty (40) years from the date of
issue, and the interest and principal thereof shall be forever
exempt from State, County and Municipal taxation in the
State of Maryland. Said bonds shall be signed by the Presi-
dent of the Commissioners, with the seal of the Commis-
sioners attached thereto, attested by the Treasurer of Delmar,
and if coupon bonds, the coupons thereon shall be signed by
the Treasurer of Delmar, or a facsimile of his signature shall
be stamped, printed or engraved thereon. Said bonds when
signed and attested as heretofore directed shall be delivered
to the Treasurer of Delmar, and the bond of said Treasurer
of Delmar shall be responsible for the safekeeping of said