76

LAWS OF MARYLAND.

CHAPTER 72.

AN ACT to authorize the Mayor and Council of Mount
Airy, in Carroll and Frederick Counties, to issue bonds for
the purpose of improving the streets of the town of Mt.
Airy in said counties.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Council of Mt. Airy be and they,

May issue
bonds.

are hereby authorized and empowered to issue bonds in the
name of the said municipal corporation to an amount not
exceeding the sum of four thousand dollars, in denominations
of one hundred dollars each, and each of said bonds shall be
payable twenty years after date to bearer, redeemable, how-
ever, at the pleasure of said Mayor and Council of Mt. Airy
at any time after the expiration of tive years from their respec-
tive dates, and shall bear interest in the meantime at the rate
of five per centum per annum, payable semi-annually, accord-
ing to the tenor of the coupons for said interest to be attached
to said bonds, which said bonds shall be sealed with the corpo-
rate seal of said municipal corporation, and, together with said
coupons shall be signed by the Mayor and countersigned by
the clerk or register of said town; provided, however, that
said bonds shall not be sold for less than par or the face value
thereof in cash current money.

Application
of proceeds

SEC. 2. And be it enacted, That the proceeds of the sale
of the bonds hereby authorized to be issued shall be applied
to grading, paving, piking, , uncadamizing, or otherwise im-
proving the streets of said town of Mt. Airy, as the Mayor
and Council thereof shall .determine.

Sinking fund

SEC. 3. And be it enacted, That the said Mayor and Council
of Mt. Airy shall have power and authority, and are hereby
required to levy all necessary taxes upon the property within
the taxable limits of said corporation, for the payment of the
interest on the bonds hereby authorized to be issued, as well as
for the payment of the said bonds at maturity, and shall create
a sinking fund for that purpose and levy the necessary taxes
therefor.

Question to be
voted on.

SEC. 4. And be it enacted, That as soon after the passage
of this act as practicable the Mayor and Council of Mt. Airy
shall cause a special election to be held in Mt. Airy, at such
time and place as may be fixed by an ordinance for that pur-
pose, and shall appoint three judges of election, who shall
conduct the same, in the manner prescribed by said ordinance,