HARRY W. NICE, GOVERNOR. 35

ments at the electric plant of said municipal corporation, and
to issue coupon bonds in the name of said corporation for the
amount so borrowed, each bond to be issued for the sum of one
thousand dollars, and to be signed in the name of said cor-
poration by the president thereof, and the seal of the corpora-
tion is to be affixed to each bond by said commissioners; but
the coupons for interest may be authenticated by the engraved,
lithographed or printed signature of the treasurer of said
corporation. Said bonds shall bear interest at a rate of in-
terest not to exceed four per centum per annum, as may be
determined by said corporation, payable semi-annually in each
and every year, and dated on the first day of their issue. Said
bonds shall be numbered consecutively and shall be due and
payable in such quantities and amounts as may be determined
by the said Town Commissioners of Centreville, a municipal
corporation, by an ordinance duly passed by said municipal
corporation; all of said bonds, however, to become due and
payable within fifteen years of the date of their issue. Said
bonds shall have printed on them a distinct reference to this
Act as directing their issue. Said bonds shall be exempt from
all state, municipal and county taxes.

SEC. 2. And be it further enacted, That in negotiating the
sale of the said bonds provided for in this Act, the said Town
Commissioners of Centreville shall first give not less than
three weeks' notice by advertisement in one newspaper printed
and published in Queen Anne's County, also by advertisement
in one or more newspapers printed and published in Baltimore
City, said advertisement to contain a copy of the ordinance
passed by said municipal corporation, showing the exact
amount of bonds to be issued and the date of maturity of each
bond, inviting proposals in writing for the purchase of said
bonds, and on a certain day to be named in said advertisement,
said Town Commissioners of Centreville shall in their office in
the town of Centreville, Queen Anne's County, Maryland, open
all bids received, and the said bonds shall be disposed of to
the highest bidder for cash, but the Town Commissioners of
Centreville shall have the power and right to refuse and reject
any and all bids, and to re-offer the same bonds or any part
thereof as above provided or otherwise, in their discretion;
provided, however, if said bonds are sold at private sale, that
they shall not be sold for less than the par value with accrued
interest.

SEC. 3. And be it further enacted, That for the purpose of
redeeming said bonds at maturity and for the securing of the
prompt payment of the interest thereon, the Town Commis-
sioners of Centreville shall levy a special tax on each one
hundred dollars, of the assessed value of all property, real and