694 LAWS OF MARYLAND. [CH. 397

weeks at least ten (10) days prior to the date of such special
election, and by such other notice as the said City by such
resolution may determine. The method of selecting judges of
election, the hours during which voting shall be permitted,
the qualification of voters and the returns from such election
shall be in accordance with existing law governing the conduct
of municipal elections in Ocean City. The notice of said
referendum shall clearly state that the voters are being called
upon to determine whether or not the City shall exercise the
authority conferred by this Act to incur indebtedness and
issue bonds for the purposes hereinabove described. The City
shall have available for examination by interested voters at
some appropriate place printed copies of this Act at the time
of the first publication of said notice and until said refer-
endum is held. The ballots used at said referendum shall
have printed thereon, on separate lines, the following: "For
$100,000.00 bond issue for water system ............", and

"Against f 100,000.00 bond issue for water system ..........",

and after each such line there shall be a space or box in which
the voters may indicate their respective preferences. If a
majority of the votes properly cast by duly qualified voters
at such referendum shall be for the issuance of said bonds, then
the City may proceed forthwith to exercise the authority
hereby conferred, but if a majority of said votes so cast shall
be against said bond issue, then the authority hereby conferred
shall be void and of no effect and shall not be exercised by the
City, provided, however, that in the event of unfavorable
action by the voters on said referendum, the City may, if it
so elects, resubmit said question to one additional referendum
at the next regular municipal election in Ocean City, under
the same terms and conditions as prescribed for such special
election by this Act.

SEC. 3. And be it further enacted, That in the event either
of the referenda above provided for shall be favorable to the
exercise of the authority hereby conferred, the City may pro-
ceed by resolution to authorize the borrowing of so much
money as may be needed for the purposes hereinabove de-
scribed, within the limitations fixed hereby, and the issuance
of bonds to evidence said borrowing. The City shall proceed
by resolution which shall determine the form and denomina-
tions of said bonds and the coupons to be attached thereto, the
rate or rates of interest to be paid thereon, or the method of
determining the same, the officials who shall execute said
bonds, and the manner and place of delivery thereof to the
purchasers. The interest payable on said bonds shall in no
event exceed four per centum (4%) per annum and shall be
payable semi-annually, and the principal and interest of said