WM. PRESTON LANK, JR., GOVERNOR. 1969

Eighty Thousand Dollars ($180,000.00) in the aggregate,
and to evidence said borrowing by the issuance to the lender
or lenders of its general obligation serial maturity coupon
bonds in like par amount, payable as to principal and
interest from the proceeds of ad valorem taxes levied without
limitation as to rate or amount on all assessable property
in said municipality, notwithstanding any other statutory
tax limitation, but subject to the right of said municipality
to apply the proceeds of any water or sewer rents or other
like charges to the payment of said principal and interest in
reduction of said ad valorem taxes; and to use the money
so borrowed for the purpose of making extensions or en-
largements of the water and sewer systems of said munici-
pality, and for the construction of a sewerage disposal plant.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Council of Rockville (a municipal
corporation of the State of Maryland, hereinafter referred to
as the "Town") is hereby authorized and empowered, at one
time or from time to time, to borrow a sum or sums of money
not exceeding One Hundred Eighty Thousand Dollars ($180,-
000.00) in the aggregate, and to evidence said borrowing by
the issuance of its general obligation serial maturity coupon
bonds, this authority being granted to said Town in order to
enable it to finance extensions, repairs and improvements to
the water mains and sanitary or storm water sewers in said
town and the construction of a sewerage disposal plant. The
purposes above outlined for which said sums so borrowed shall
be expended are hereinafter referred to as the improvements,
and include, in addition to the foregoing, expenditures for any
necessary rights-of-way for said water mains or sewers, the
site for said sewerage disposal plant, and all necessary engi-
neering, surveys, plans, drawings and specifications needed to
enable the Town to make said improvements or to contract
therefor. The necessary costs incident to the issuance of the
bonds hereby authorized shall likewise be treated as a part of
the cost of said improvements.

SEC. 2. And be it further enacted, That said bonds, and the
coupons attached thereto, shall be in such form and denomina-
tions and shall be sold, executed and delivered in such manner
as the Town may from time to time decide, such decision, how-
ever, to be made with respect to each particular group of bonds
sold, prior to the delivery thereof, by one or more legally
adopted ordinances. Such bonds shall be dated, shall bear
interest at such rate or rates, not exceeding four per centum
(4%) per annum, payable semi-annually, shall mature at such
time or times not exceeding thirty (30) years from their