480

LAWS OF MARYLAND.

Mayor and countersigned by the treasurer of said municipal cor-
poration; said bonds, shall be signed by the Mayor, sealed with
the corporate seal of said city, countersigned by the treasurer, and
registered by the clerk of said city, and they shall be forever
exempt from all taxation, except for State purposes; they shall
have printed upon them a distinct reference to this act, as au-
thorizing the issue thereof; and the property and credit of said
municipal corporation shall be and hereby is pledged for the
payment of said bonds, and the interest thereon; provided,
however, that said Mayor, Counsellor, and Alderman, instead
of issuing said bonds, shall be at liberty on or before the first
day of June, eighteen hundred and ninety-six, to provide said
sum of six thousand dollars in some other manner.

Sale of bonds

SEC. 12. Be it enacted, That said bonds shall be so issued
by the Mayor and Counsellor and Alderman of the city of
Annapolis without submitting the question of their issue to a
vote of the citizens of qualified voters of said city, all or any
of the provisions of the charter of said city to the contrary
notwithstanding; said bonds shall be advertised for sale by the
Mayor, Counsellor and Alderman of said city, and shall be
sold to the highest bidder or bidders for cash; provided that
said bonds shall not be sold for less than their face value, if
issued; and provided further, that if said Mayor, Counsellor
and Alderman shall not be able to provide said sum of six
thousand dollars on or before the first day of June, 1896, other-
wise than by issuing said bonds.

Application
or proceeds

SEC. 13. And be it enacted, That the money arising from
the sale of said municipal bonds of Annapolis, or said sum of
six thousand dollars if otherwise provided by said Mayor,
Counsellor and Alderman, shall be paid to the tresurer of
said city, who shall keep the same entirely separate and distinct
from other receipts of his office, and shall apply the same
solely to the erection and furnishing of said public school
building; he shall keep a book in which he shall enter a
registry of said bonds, the names of the purchasers thereof
the amounts realized therefor, and the payment, redemption
,and cancellation of the bonds and their coupons, respectively.
He shall pay over the proceeds arising from the sale of said
bonds to the order of said building committee, upon warrant
drawn from a warrant book by said committee and numbered
consecutively, and in no other manner; and shall keep and
render to said corporation of Annapolis, an account of such of
his receipts and disbursements, and the balance in his hands,
on account thereof, at his regular monthly accountings with