468

LAWS OF MARYLAND.

or not said town shall issue coupon bonds to the amount of
eighteen thousand dollars, or less, for the purpose of providing
a proper water supply fo; said town, shall be and is hereby
directed to be submitted to the legal and qualified voters of
said town; and in order to advise the citizens of said town of
the intent of this act, it shall be the duty of the commissioners
of Snow Hill to publish in some newspaper or newspapers of
general circulation in said town, the substance of this act for
two weeks previous to said election, and by such other notice
as they may deem necessary and proper.

SEC. 2. And be it enacted, That the election provided for

Conduct of
election.

in section one hereof shall be held in conformity to the pro-
visions of an Act of Assembly of 1874, authorizing an election
for Mayor and Councilmen for said town, and the ballots shall
have printed on them the words "for the issue of water
bonds," and "against the issue of water bonds." The returns
of said election shall be made in the same manner as is pro-
vided for in the said municipal election; and if a majority of
the votes cast shall be against the issuing of wafer bonds, then

Result of
election

and in that case no bonds shall be issued; but if a majority of
the votes cast shall be for the issuing of water bonds, then
the said Mayor and Council of Snow Hill shall issue said bonds
to the amount of eighteen thousand dollars or less, as hereafter
provided.

May issue
bonds.

SEC. 3. And be it enacted, That if the decision by said
election shall be for the issuing of water bonds, the Mayor
and Council of Snow Hill are hereby authorized and directed
to borrow on the credit of the town of Snow Hill an amount
not exceeding the sum of eighteen thousand dollars, and to
issue coupon bonds therefor in sums of not less than one hun-
dred dollars and not more than one thousand dollars, each to
be signed by the mayor of the said town and to be counter-
signed by the secretary and treasurer of the corporation, with
the seal of the said town attached, and to be registered by said
secretary and treasurer in a separate book kept for that pur-

Interest.

pose; said bonds shall bear interest at the rate of five per
cent, per annum, payable semi-annually on the first day of
January and July in each and every year until the said bonds
are paid; said bonds shall be forever exempt from all taxation
whatsoever except for State purposes, and shall have printed on
them a distinct reference to the act and the election directing
their issue.