ALBERT C. RITCHIE, GOVERNOR. 551

vided that the interest on said bonds shall be payable
semi-annually, that said bonds shall mature in not ex-
ceeding thirty (30) years from the date of issue, and shall
be forever exempt from State, county and municipal taxa-
tion. Said bonds shall be signed by the Mayor of West-
minster, with the seal of the City attached thereto, attested
by the Clerk of The Mayor and Common Council of West-
minster, and if coupon bonds, the coupons thereon shall be
signed by the said Clerk or a facsimile of his signature
shall be stamped, printed, or engraved thereon, and such
bonds shall have written or printed on them a distinct refer-
ence to this Act of Assembly authorizing the issuance of
the same. Said Bonds when signed and attested as hereto-
fore directed, shall be delivered to the Clerk of The Mayor
and Common Council of Westminster, and the bond of said
Clerk shall be responsible for the safekeeping of said bonds
and the proceeds thereof.

SEC. 3. And be it further enacted, That the said The
Mayor and Common Council of Westminster shall, by or-
dinance, cause advertisement to be made, by one insertion
in a paper published in Westminster and a paper published
in Baltimore City at least three (3) weeks prior to the
opening of bids, setting the time and place where bids, con-
ditioned as may be required by said ordinance, will be
opened for the sale of said bonds, preserving unto itself the
right to reject any and all bids, and the right to readver-
tise the sale of said bonds. Said bids shall be filed with the
Clerk of The Mayor and Common Council of Westminster,
and at the time and place advertised shall be opened by him
in the presence of The Mayor and Common Council of West-
minster, and if said bids be satisfactory to The Mayor and
Common Council of Westminster, it shall sell said bonds
or any part thereof to the highest bidder or bidders, of
whose ability to comply with the terms of the sale, said
The Mayor and Common Council of Westminster, in its
discretion, is satisfied, provided said bonds shall not be sold
except for cash.

SEC. 4. And be it further enacted, That upon the sale
of said bonds the proceeds thereof will be deposited in such
depository as the said The Mayor and Common Council of
Westminster shall, by resolution, designate, in a separate
fund to be held by such bank under a specific declaration
of trust, and used by The Mayor and Common Council of
Westminster for the payment of the purchase price of the
water works plant and properties of The Consolidated Pub-