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Bonds to be
issued.
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Annapolis be and they are hereby authorized and directed to
issue bonds in the name of the city of Annapolis to an amount
not exceeding three thousand dollars ($3,000); such bonds shall
be issued in sums of not less than one hundred nor more than
one thousand dollars each ; and each bond shall be dated the
first day of July, eighteen hundred and ninety-eight, and shall
be payable twenty years after date thereof to the bearer, and
shall be redeemable at the pleasure of said Mayor, Counsellor
and Aldermen of the city of Annapolis, at any time after the
expiration of tive years from the common date thereof; they
shall bear interest at the rate of tive per centum per annum,
payable semi-annually on the first day of January and July in
each year until paid, for which semi-annual interest proper
interest coupons shall be attached to said bonds signed by the
Mayor and countersigned by the treasurer of said municipal
corporation ; said bonds shall be signed by the Mayor, sealed
with the corporate seal of said city, countersigned by the
treasurer, and registered by the clerk of said city, and they
shall be forever exempt from all taxation except for State pur-
poses; they shall have printed upon them a distinct reference
to this Act, as authorizing the issue thereof ; and the property
and credit of said municipal corporation shall be and hereby
is pledged for the payment of said bonds, and the interest
thereon ; provided, however, that said Mayor, Counsellor and
Alderman instead of issuing said bonds, shall be at liberty on
or before the first day of June, eighteen hundred and ninety-
eight, to provide said sum of three thousand ($3,000) dollars,
in some other manner.
SEC. 12. Be it enacted, That said bonds shall be so issued
by, the Mayor, Counsellor and Aldermen of the city of Annap-
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Advertise for
sale.
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olis without submitting the question of their issue to a vote of
the citizens of qualified voters of said city, all or any of the
provisions of the charter of said city to the contrary notwith-
standing ; said bonds shall be advertised for sale by the Mayor,
Counsellor and Aldermen of said city, and shall be sold to the
highest bidder or bidders for cash ; provided, that said bonds
shall not be sold for less than their par value, if issued ; and
provided further, that said Mayor, Counsellor and Aldermen
shall not be able to provide said sum of three thousand dollars
($3,000) on or before the first day of June, eighteen hundred
and ninety-eight, otherwise than by issuing said bonds.
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