654 LAWS OF MARYLAND. [CH. 375

apply the proceeds thereof as hereinafter provided; said
bonds shall be of the denomination of One Thousand Dollars
($1,000.00) each and shall be exempt from City, County and
State taxes and shall bear interest at a rate of not more
than four per cent (4%) per annum, payable semi-annually,
and for which proper interest coupons are to be attached to
said bonds; said bonds shall be signed by the Mayor of the
City of Cumberland and duly attested by the City Clerk with
the corporate seal of the City thereunto attached.

SEC. 2. And be it further en-acted, That for the purpose of
paying the interest on said bonds and retiring said bonds at
maturity, the said Mayor and City Council shall assess
against the assessable property in the City of Cumberland
in each year during continuance of said bonds, a sum of
money sufficient to pay the interest thereon and such further
sums as may be required for the purpose of paying off such
part of said bonds as shall mature and be payable in each
year, and shall use said money in the payment of said inter-
est and in the payment of the principal of said bonds until
the whole thereof has been paid.

SEC. 3. And be it further enacted, That the Mayor and
City Council shall cause proper advertisement to be made
stating the time and place where bids conditioned as the said
Mayor and City Council shall require will be opened for the
sale of said bonds in whole or in part, reserving unto itself
the right to reject any and all bids. Said bids together with
such certified checks as may be required shall be filed with
the City Clerk and at the time and place advertised shall
be opened by him in the presence of the Mayor and City
Council, and if said bids be satisfactory to the Mayor and
City Council, it shall sell said bonds or any part thereof to
the highest bidder or bidders therefor of whose ability to
comply with the terms of sale the said Mayor and City Coun-
cil in its discretion is satisfied. In the event that the bonds
be sold, the proceeds thereof shall be placed in a separate
fund and shall be used for the purpose of acquiring land, if
needed, and the construction of suitable playgrounds and
recreational facilities within the limits of the City of Cum-
berland, and for the payment of all expenses incident to the
acquisition or construction thereof, but shall not be used
for the purpose of operating said playgrounds.

SEC. 4. And be it further enacted, That the Mayor and
City Council of Cumberland is hereby authorized and em-
powered to accept from any Federal or State agency grants
for or in aid of the construction of public playgrounds and