44

LAWS OF MARYLAND,
dollars; and of bonds known as "Carroll creek

For what pur-
pose issued.

bonds," amounting to fifty thousand dollars,
and to no other use or purpose whatever ; and
the bonds to be issued under the provisions of
this act shall be issued solely and alone for the
purpose of redeeming the present outstanding
bonds heretofore issued by said municipal cor-
poration as the same may be or become due or
payable, and for no other purpose whatever, and
nothing contained in the provisions of this act
shall be construed to authorize said municipal
corporation to issue bonds for any greater
amount than the actual present bonded indebt-
edness of said municipal corporation, nor for
any other purpose than that herein specified.
SEC. 3. And be it enacted, That the said mayor
and aldermen of Frederick shall have full power

Levy for pay-
ment of in-
terest.

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, and for the payment of
the principal thereof at the maturity thereof,
and shall create a sinking fund for that purpose,
and levy the necessary taxes thereof.

Effective.

SEC. 4. And be it enacted, That this act shall
take effect from the date of its passage.

Approved February 21, 1888.