118 LAWS OF MARYLAND. [CH. 73

the members elected to each of the two Houses of the General
Assembly, the same shall take effect from the date of its
passage.

Approved April 10th, 1918.

CHAPTER 73.

AN ACT to enable the Burgess and Commissioners of Emmits-
burg, Frederick County, to borrow on the faith of the credit
of said town, a sum. not exceeding seventy-five hundred dol-
lars, and. to issue and sell coupon bonds therefor, to provide
funds for the improvement of the streets, alleys and crossings
of said town, and to provide for the levy and collection of
taxes to meet the interest and principal of said bonds as the
same become due.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That, for the purpose of improving the streets, alleys and
crossings of the Town of Emmitsburg, Frederick County, the
Burgess and Commissioners of Emmitsburg, be and are hereby
authorized and empowered, in their discretion, to borrow upon
the credit of the Town of Emmitsburg an amount not exceeding
seventy-five hundred dollars ($7, 500), and to issue coupon
bonds therefor in sums not less than fifty dollars nor more than
five hundred dollars each, to be signed by the Burgess and coun-
tersigned by the President and Secretary of the Board of Com-
missioners of said town, with the seal of the said town attached;
said bonds shall bear interest at the rate of five per centum per
annum, payable semi-annually on the first days of January and
July in each and every year until said bonds are paid. Said
bonds shall be exempt from municipal and county taxation and
shall have printed on them a distinct reference to this Act
directing their issue, and the money arising from the sale of
said bonds shall be used for the purpose of improving the
streets, alleys and crossings of Emmitsburg and for no other
purpose.

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