382 LAWS OF MARYLAND. [CH. 259

(hereinafter referred to as the City), to finance the resurfac-
ing, reconstruction, widening, opening, extension, replace-
ment, improvement or construction of streets, highways, roads
and sidewalks within the corporate limits of the City, the said
City is hereby authorized and empowered, at one time or from
time tq time, to borrow a sum or sums of money not exceed-
ing Thirty Thousand Dollars ($30,000.00) in the aggregate,
and to evidence said borrowing by the issuance to the lender
or lenders of its general obligation serial maturity coupon
bonds.

SEC. 2. And be it further enacted, That said bonds, and the
coupons attached thereto, shall be in such form and denomi-
nations and shall be sold, executed and delivered in such
manner as the City may from time to time decide, such de-
cision, however, 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 date or dates of issue as may be determined in said
ordinances above referred to, and said bonds, or any of them,
may be made redeemable before maturity at the option of the
City at such price or prices and under such terms and condi-
tions as may be fixed by the City in the ordinance or ordi-
nances adopted prior to delivery of the bonds. The principal
and interest of such bonds may be made payable in any lawful
medium and the City may fix the place or places of such pay-
ment, which may be at any bank or trust company within or
without the State. In case any officer whose signature shall
appear on any such bonds or coupons shall cease to be such
officer before delivery of the bonds, such signature shall never-
the less be valid and sufficient for all purposes the same as if
he had remained in office until delivery. Provision may be
made by the City for the registration of any of such bonds in
the name of the owner or owners thereof as to principal alone
and, also, as to both principal and interest, and for the recon-
version of any of the bonds so registered as to both principal
and interest into coupon bonds. Such bonds may be issued
without regard to any limitation on indebtedness prescribed
by any other law. The City may sell said bonds in such
manner and for such price or prices as it may from time to
time determine to be for its best interests, but no such sale
shall be made at a price so low as to require the payment of
interest on the money received therefor at more than four
per centum (4%) per annum, computed with relation to the
absolute maturity of the bonds in accordance with standard