256 LAWS OF MARYLAND. [CH. 175

seal thereto attached, and shall bear interest, payable semi-
annually, at such rate as the Mayor and Town Council
of said Town of Washington Grove deem to be for the
best interest of said Town.

SEC. 4...And be it further enacted, That the Mayor and
Town Council of the Town of Washington Grove shall
have the sole right and power to fix the maturities and
terms of sale of all Bonds issued under the authority of
this act, together with the manner and terms of payment
thereof, and to secure said Bonds by the entire faith and
credit of said Town.

SEC. 5. And be it further enacted, That for the purpose
of paying the interest on promissory notes, certificates
of indebtedness and/or Bonds issued under the authority
of this act, and retiring the same at maturity, the Mayor
and Town Council, acting for the Town of Washington
Grove shall be authorized to assess against the assessable
property in said Town, each year during the continuance
of said promissory notes, certificates of indebtedness,
and/or Bonds, a sum of money sufficient to pay the interest
thereon and such further sum as may be required for the
purpose of retiring said promissory notes, certificates of
indebtedness and/or Bonds at maturity, and shall deposit
said principal sum in a Sinking Fund to be opened by the
Treasurer of said Town and his successor in office, as
Trustee of the Sinking Fund of the Town of Washington
Grove, with authority to the Trustee of said Sinking Fund,
under an order of the Mayor and Town Council, to invest
said sum so paid to him for said purposes together with
all interest which may accrue in proper securities; and
the said Trustee shall have the power under an order of
the Mayor and Town Council to purchase Bonds issued
hereunder for said Sinking Fund; and said Mayor and
Town Council may from time to time, and at any time,
mature any part or all of the Bonds issued hereunder.

SEC. 6. And be it further enacted, That this Act shall
take effect June 1, 1947.

Approved March 29, 1947.

CHAPTER 175.
(Senate Bill 208)

AN ACT to repeal and re-enact, with amendments, Sec-
tions 552, 553, 554 and 555 of Article 6 of the Code of