778 LAWS OF MARYLAND.

of the votes cast at such election favor the execution of said
power, the Mayor and Council may proceed to issue said bonds;
but if a majority of the votes cast be against the executing of
said power, then it shall be null and void, and this law of no
further effect.

SEC. 6. And be it enacted. That this Act shall take effect
from the date of its passage.

Approved April 6, 1908.

CHAPTER 444.

AN ACT to authorize and empower the Burgess and Commis-
sioners of Emmitsburg, Frederick county, to borrow money
necessary for the improvements of streets, alleys and cross-
ings of said town, not exceeding the sum of twenty-five hun-
dred ($2,500.00) dollars, and to issue bonds therefor.

SECTION 1. Be it enacted by the General Assembly of Mary-
land,, That the Burgess and Commissioners of Emmitsburg be
and they are hereby authorized and empowered to issue bonds
in the name of the said Burgess and Commissioners of Emmits-
burg, Frederick county, to an amount not exceeding twenty-five
hundred ($2,500.00) dollars in the aggregate in sums not less
than fifty ($50) dollars each, said bonds to be sealed with the
seal of the said corporation, signed by the Burgess of the said
town and countersigned by the president and secretary of the
said Board of Commissioners; said bonds to bear interest pay-
able semi-annually on the first days of July and January of
each and every year, at a rate of interest not exceeding five per
centum per annum, for which interest proper coupons shall be
attached to said bonds, signed and countersigned as aforesaid.

SEC. 2. And be it enacted, That said bonds shall be issued
payable twenty years from date thereof and redeemable at any
time after the expiration of five years from date at the pleasure
of the said Burgess and Commissioners of Emmitsburg.

SEC. 3. And be it enacted, That the said Burgess and Com-
missioners of Emmitsburg shall apply the proceeds from the
sale of said bonds to the improvement of the streets, alleys and
crossings of the said town of Emmitsburg.

SEC. 4. And be it enacted. That the Burgess and Commis-
sioners of Emmitsburg shall provide annually, out of the usual
tax levy, an amount sufficient to pay the interest on the said
bonds, and they shall set apart a further sum of fifty ($50)
dollars annually to be reinvested in such securities as they may