WM. PRESTON LANE, JR., GOVERNOR. 663

not to exceed Twenty-five Thousand Dollars ($25,000.00) and
to issue its bonds, notes or other certificates of indebtedness
therefor for the purpose of purchasing a fire engine or truck
and the necessary equipment therefor, the said amount so
borrowed to be used for no other purpose whatsoever.

SEC. 2. And be it further enacted, That the said bonds, notes
or other certificates of indebtedness shall be issued in such
denominations as shall be determined by the said Mayor and
City Council, shall bear interest at a rate to be determined
by the said Mayor and City Council, not in excess of six per
cent (6%) per annum, payable semi-annually, and shall be
dated on the date of their issue and shall mature not exceed-
ing ten years from the date of their issue; and in the event
that bonds shall be issued by the said Mayor and City Council,
then such bonds shall be retired serially as the said Mayor and
City Council shall determine. Said bonds, notes or other
certificates of indebtedness 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. 3. And be it further enacted, That the Mayor and City
Council of Laurel be and it is hereby authorized and directed
to levy each year so long as said bonds, notes or other certifi-
cates of indebtedness 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 purpose.
In case such bonds, notes or other certificates of indebtedness
shall be issued in any year after the making of the regular
levy for that year, then the Mayor and City Council of Laurel
is authorized and directed to pay any and all interest coming
due before the next levy out of any other funds at its disposal
and to levy at the next succeeding levy to reimburse such
other funds.

SEC. 4. And be it further enacted, That the Mayor and City
Council of Laurel be and it is hereby authorized and empow-
ered to do all acts and things necessary to issue and sell or
negotiate said bonds, notes or other certificates of indebted-
ness, to have the same registered if necessary, and to do all
things necessary to carry out the purposes of this Act, even
though the same may not be specifically mentioned herein or
in the Charter of the town of Laurel or in any other Act
relating to the said town.

SEC. 5. And be it further enacted, That before any bonds,
notes or other certificates of indebtedness shall be issued and