970

LAWS OF MARYLAND.

Right
reserved.

SEC. 13. And be it enacted. That the General Assembly
reserves the right to repeal, alter or amend this Act at its
pleasure.

Effective.

SEC. 14. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 9, 1898.

CHAPTER 370.
AN ACT to authorize and direct the Major, Counsellor and
Aldermen of the City of Annapolis to issue bonds to an
amount not exceeding thirty thousand dollars, to pay the
present floating indebtedness of the city, and certain antici-
pated indebtedness connected with the building and furnish-
ing of the public school buildings in said city, without sub-
. mitting the question of the issuance of said bonds to a vote
of the legal voters of said city, and to repeal and re-enact
Section 28 of Article 2 of the Code of Public Local Laws,
title "Anne Arundel County," sub-title "City of Annapolis,"
and relating to the boundaries of said City of Annapolis.
WHEREAS, the city of Annapolis, has now an outstanding

Preamble.

floating indebtedness of twenty-four thousand dollars, with no
sinking fund provided for the payment of said indebtedness ;
and
WHEREAS, said indebtedness now bears interest at the rate

Preamble.

of six per centum per annum, and it is considered desirable by
the issuance of a series of bonds to pay off said indebtedness ;
and

WHEREAS, the said city is about to become responsible for

Preamble.

certain other indebtedness connected with building, improving
and furnishing the public school building of said city,
aggregating altogether thirty thousand dollars ; therefore,

Bonds to be
Issued.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor, Counsellor and Aldermen of the city of
Annapolis be and they are hereby authorized and directed to
issue bonds for the purposes aforesaid to an amount not exceed-
ing thirty thousand dollars without submitting the question of
the issuance of said bonds to the legal voters of the city of
Annapolis.

Bear five per
cent Interest

SEC. 2. And be it enacted, That said bonds when issued
shall bear interest at five per cent., and be forever exempt
from all county, school and municipal taxation.