726 LAWS OF MARYLAND. [CH. 417

inafter referred to as the Town) to finance the construction of
a combined City Hall and fire engine house, including site
acquisition, if necessary, and the cost of architectural and
engineering plans, drawings and specifications, the said Town
is hereby authorized and empowered to borrow a sum or sums
of money not exceeding Thirty Thousand Dollars ($30,000.00),
and to evidence said borrowing by the issuance 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 denomina-
tions and shall be sold, executed and delivered in such manner
as the Town may determine by an ordinance adopted in ac-
cordance with law prior to the issuance of said bonds. Such
bonds shall be dated, shall bear interest at such rate or rates
of interest not exceeding four per centum (4%) per annum,
payable semi-annually through the medium of coupons at-
tached to said bonds, shall mature in consecutive annual
installments over a period not exceeding thirty (30) years
from their date of issue and may be made redeemable before
maturity at the option of the Town at such price or prices
and under such terms and conditions as may be fixed by the
Town in the ordinance above referred to adopted prior to the
issuance of said bonds. The said bonds shall be executed by
the Mayor of the Town and the corporate seal of said Town
shall be affixed thereto, attested by the Clerk. The principal
of such bonds may be made payable in any lawful medium
and the Town may fix the place or places of such payment,
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 nevertheless
be valid and sufficient for all purposes the same as if he had
remained in office until delivery. Said bonds may, in the
discretion of the Town, be made registerable as to principal
only and they may be issued without regard to any limitation
on indebtedness prescribed by any other law. The Town may
sell said bonds at public or private sale and none of the pro-
visions of Sections 34, 35 and 36 of Article 31 of the Code of
Public General Laws of Maryland (1939 Edition) shall be
applicable thereto. Within the limitations prescribed hereby,
said bonds shall be issued to mature in consecutive annual
serial installments so that one or more of said bonds will
mature and be payable in each year following the year of the
issuance thereof; provided, however, that the last of said
maturities shall occur within a period of thirty (30) years
from said date of issue.