854

LAWS OF MARYLAND.

CHAPTER 560.

AN ACT to authorize the burgess and commissioners of
Taneytown, Carroll County, State of Maryland, to issue its
bonds or certificates of indebtedness to an amount not ex-
ceeding six thousand dollars, for the purpose of providing
means for completing the grading, paving and other im-
provements of the streets, lanes and alleys of Taneytown,
Carroll County, Maryland, and the payment of outstanding
indebtedness.

SECTION 1. Be it enacted by the General Assembly of

May issue
bonds.

Maryland, That the burgess and commissioners of Taney-
town, Carroll county, Maryland, be and they are hereby au-
thorized and empowered to issue bonds in the name of the bur-
gess and commissioners of Taneytown, Carroll county, Mary-
land, in sums not less than one hundred dollars nor more than
one thousand dollars, to be signed by the burgess, and counter-
signed by the clerk of the commissioners, not exceeding the
whole sum of six thousand dollars, bearing interest not ex-
ceeding six per centum per annum, payable semi-annually, on
the first day of July and the first day of January, in each and
every year, and said bonds shall not be disposed of at less the
par value thereof, and the same shall be exempt from county
and municipal taxation.

Maturity of
bonds.

SEC. 2. And be it enacted, That the said bonds shall be
issued, payable thirty years from date thereof, and redeemable
at any time after the expiration of ten years from the date
thereof, at the pleasure of the said burgess and commissioners
of Taneytown, Carroll county, Maryland, and the said bonds
shall be consecutively numbered as the same shall be issued.

Proceeds,
how to be
applied.

SEC. 3. And be it enacted, That the said sum of six thous-
and dollars, or so much thereof as may be necessary for the
purpose, shall be by the said burgess and commissioners used
and applied to the payment of the costs and expenses of pav-
ing, grading and macadamizing and other improvements in such
street or streets, lanes and alleys in said Taneytown, Carroll
county, Maryland, as the said burgess and commissioners may
order and direct, and to the payment of the outstanding
indebtedness of the said corporation of Taneytown, Carroll
county, Maryland.

SEC. 4. And be it enacted, That the said burgess and com-
missioners be and they are hereby authorized and required