702 LAWS OF MARYLAND.

CHAPTER 70.

AN ACT to authorize the Burgess and Commissioners of New
Windsor to construct water works for the purpose of supply-
ing water to the inhabitants of the town of New Windsor
and the vicinity thereof, and for this purpose to borrow on the
credit of said town an amount not exceeding the sum of
twenty-five thousand dollars ($25,000), and to issue bonds
of said town in payment of the sum so borrowed.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Burgess and Commissioners of New Windsor,
in Carroll county, in the State of Maryland, be and they are
hereby authorized and empowered to construct water works
for the purpose of supplying the inhabitants of said town and
the vicinity thereof with water for the extinguishment of fire
and for domestic and manufacturing purposes, and they are
hereby authorized to rent and sell water to the inhabitants of
said town and the vicinity thereof at such price and on such
terms and conditions as the said Burgess and Commissioners
of New Windsor may determine.

SEC. 2. Be it enacted, That for the purpose of constructing
such water works and supplying water as set forth in the" first
section of this bill, the said Burgess and Commissioners of New
Windsor are hereby authorized and empowered to borrow on
the credit of said town an amount not exceeding the sum of
twenty-five thousand dollars ($25,000), and to issue the bonds
of said town in payment of the sum so borrowed. The said
bonds shall be for sums not less than one hundred dollars nor
more than five hundred dollars, each to be signed by the Bur-
gess and countersigned by the clerk to the Burgess and Com-
missioners of New Windsor, with the corporate seal of said
town affixed. And said bonds shall be consecutively numbered
as the same shall be issued; and if registered bonds are issued,
said bonds shall be registered by the town clerk in a separate
book, to be specially provided for that purpose. The said
bonds shall be issued at such time as the Burgess and Commis-
sioners of New Windsor shall determine; they shall bear inter-
est at the rate of not more than four and a half per cent, per
annum, payable annually, at such price as the said Burgess and
Commissioners shall designate, beginning one year from the
date of the issue; said bonds shall be payable as to the principal
thereof in forty years from the date of their issue, and shall be
forever exempt from all county and municipal taxation for any
purpose, and shall have printed on them a distinct reference to
the Act of Assembly authorizing the issuing thereof; and the
said bonds shall not be sold for less than their par or face value,