LLOYD LQWKDES, ESQUIRE, GOVERNOR.

CHAPTER 125.
AN ACT to authorize the Town of Takoma Park to borrow
'money on the credit of said town for the purpose of con-
structing and maintaining water works, a sewerage system
and an electric light plant for said town, to issue bonds for
the payment of the same and to levy taxes to redeem said
bonds and to pay the interest thereon.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of constructing and maintain-
ing water works, a system of sewerage and an electric light

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plant for the town of Takoma Park, the said town be and it
is hereby authorized -to borrow money on the credit of said
town to an amount not exceeding the sum of forty thousand
dollars, and to issue registered negotiable bonds of said town
for said sum so to be borrowed. The said bonds shall be for
sums not less than one hundred dollars nor more than one
thousand dollars each, shall be signed by the Mayor, counter-
signed bj7 the clerk of said town, bear the corporate seal of said
town, shall be consecutively numbered and be registered by said
clerk in a separate book to be especially provided for that purpose,
in which also all assignments thereof shall be registered. The
said bonds shall be issued at such time or times as the council of
said town shall determine; shall bear interest at the rate of not
exceeding four per centum per annum, said interest to be paid
semi annually, beginning six mouths from the date of their
issue, and shall be payable thirty years from the date or their
issue in gold coin of the United States, of the present stand-
ard of weight and fineness, or its equivalent ; shall not be sub-
ject to taxation for town and county purposes, and shall refer
to the Act of Assembly authorizing the issue thereof.

SEO. 2. And be it enacted, That before said debt is created
and said bonds issued, the question of its creation and
the issuance of said bonds shall be submitted to the qualified
voters of said town at a special municipal election to be called

Authorized
to borrow
money.

*.

by the Council for that purpose, notice of which shall be given
by publication in some newspaper circulating in said town, and
by posting said notice in tive conspicuous places in said town,
said publication and posting to be at least ten days prior to said
election. , Said notice shall refer to the Act of Assembly
authorizing the issue of said bonds, the purpose of the issue,
describe the indebtedness to be created and the amount thereof,
and the ballots shall be printed "for the debt" and "against
the debt;" and if two- thirds of the qualified voters of the town

Submitted to
the qualified
voters.