644 LAWS OF MARYLAND. [CH. 370

ized to levy from time to time such taxes as may be necessary
to the successful maintenance and operation of said sewerage
system and sewage disposal plant.

SEC. 2. And be it further enacted, That The Commissioners
of Trappe be and they are hereby authorized and empowered
to borrow on the faith and credit of the town of Trappe the
amount of Eighty Thousand Dollars ($80,000) and from time
to time to issue and sell bonds not exceeding said sum of
$80,000, said bonds to be signed by the President of the Board
of Commissioners of Trappe, countersigned by the Town Clerk
and with the corporate seal of said town affixed thereto. The
entire proceeds of such bonds, after payment of costs of en-
graving and all other incidental costs and expenses connected
with the issuance of such bonds, shall be used, either alone or
in connection with any Federal funds which may be made
available, for the purpose of constructing, installing, main-
taining in working order and operating the aforementioned
sewerage system and sewage disposal plant in the town of
Trappe, the said amount so borrowed to be used for no other
purpose whatsoever.

SEC. 3. And be it further enacted, That the said bonds
shall be issued in such denominations as shall be determined
by the said Commissioners of Trappe, shall bear interest at
a rate to be determined by said Commissioners, not in excess
of four per cent. (4%) per annum, payable semi-annually,
shall be dated on the date of their issue and shall mature not
exceeding forty years from the date of their issue, or may be
retired serially as said Commissioners of Trappe may deter-
mine. Said bonds shall be exempt from all State, county and
municipal taxation, and shall have printed on them a distinct
reference to the Act authorizing their issuance.

SEC. 4. And be it further enacted, That The Commissioners
of Trappe be and they are hereby authorized and directed to
levy each year so long as said bonds are outstanding and not
paid a tax sufficient to redeem the same at their maturity and
to pay the interest thereon, the proceeds of said tax to be kept
in a special fund and in no case to be used for any other pur-
pose. In case such bonds shall be issued in any year after the
making of the regular levy for that year, then The Commis-
sioners of Trappe are authorized and directed to pay any and
all interest coming due before the next levy out of any other
funds in its disposal and to levy at the next succeeding levy,
to reimburse such other funds.

SEC. 5. And be it further enacted, That The Commissioners
of Trappe be and they are hereby authorized and empowered