ALBERT C. RITCHIE, GOVERNOR. 191

Dollars ($20, 000. 00) and to issue and deliver bonds
therefor in payment of, or to issue and sell said bonds
in order to secure the necessary funds for the payment
of, indebtedness owing by the Burgess and Commission-
ers of Hancock to the two banks situate in Hancock and
to various other corporations and individuals for money
borrowed and services performed for the benefit of the
Town of Hancock or to use part of said bonds and the
proceeds from such remaining part of said bonds as the
said Burgess and Commissioners of Hancock may elect
to sell for the purpose of liquidating said indebtedness
and to provide for the payment of the interest on said
bonds and of the principal thereof by the levy of taxes
upon the taxable property in Hancock.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Burgess and Commissioners of Han-
cock be and they are hereby authorized and empowered to
borrow on the credit of Hancock the sum of Twenty Thou-
sand Dollars ($20, 000. 00) and to issue coupon bonds there-
for in the sum of not less than One Hundred Dollars
($100. 00) or more than Five Hundred Dollars ($500. 00),
said bonds to be signed in the name of the Burgess and
Commissioners of Hancock by its Burgess and counter-
signed by the Clerk thereof, as well as under the corporate
seal of said the Burgess and Commissioners of Hancock to
be designated as "Hancock Public Debt Bonds, " said bonds
to bear interest at a rate to be fixed by the Burgess and
Commissioners of Hancock not exceeding five per centum
per annum payable semi-annually on the first day of Jan-
uary and on the first day of July of each year as evidenced
by coupons which shall be payable in lawful currency of
the United States upon presentation at or after maturity
at the office of the Treasurer of the Burgess and Commis-
sioners of Hancock in Hancock, Maryland; and said bonds
shall be exempt from all State, County, and municipal taxa-
tion in Washington County. The said bonds shall bear
date as of July 1, 1933, and be payable in sums of $500. 00
in each of the years beginning with January 1, 1950, pro-
vided that at least $500. 00 per year be paid each year
thereafter until the bonds are fully paid; said bonds to be
numbered consecutively and to be redeemed in the order
in which they are numbered.

SEC. 2. And be it further enacted, That the Burgess
and Commissioners of Hancock are hereby authorized and
directed either to deliver said bonds when executed t par