1210 . LAWS OF MARYLAND.

levy and collection of taxes to meet the interest and principal
of said bonds as the same may become due.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That to provide funds for the purpose of retiring the
bonds heretofore issued by said Mayor and City Council un-
der the provisions of Chapter 528 of the Acts of 1898, and Chap-
ter 561 of the Acts of 1904, and further, to provide a fund to be
used in the liquidation of certain debts and liabilities hereto-
fore created by said Mayor and City Council for municipal
maintenance and improvements, and for the still further pur-
pose of providing funds for the improvement, repair, construc-
tion and maintenance of the public streets, ways and property
of said town, and such other public improvements as may, in
the judgment of the said. Mayor and City Council, be for the
general public welfare, the Mayor and City Council of Ocean
City is hereby authorized in its discretion to borrow upon the
credit of the town of Ocean City an amount not exceeding
thirty thousand dollars, and to issue coupon bonds therefor in
sums not less than one hundred dollars and not more than one
thousand dollars each, to be signed by the Mayor of said town
and countersigned by the Treasurer thereof with the seal of
said town attached. Said bonds shall bear interest at the rate
of six per centum per annum, payable semi-annually on the
first day of January and July in each and every year until the
said bonds are paid. Said bonds shall be forever exempt from
all county and municipal taxation in Worcester County, and
shall have printed on them a distinct reference to the Act
directing their issue.

SEC. 2. And be it enacted, That said bonds shall be issued
in series of from one to thirty, inclusive, according to the
aggregate amount issued, each series consisting of one thou-
sand dollars of said amount, and shall fall due and be re-
deemable and payable as follows: Series No. 1 thereof on the
1st day of January, in the year 1925; Series No. 2 thereof on
the 1st day of January, in the year 1926; and so on, up to and
including Series No. 10 thereof, which shall fall due and be
redeemable on the 1st day of January, in the year 1934. The
money arising from the sale of said bonds of Series No. 1 to
Series No. 10, inclusive, shall be available to said Mayor and
City Council, first, for the payment of all outstanding debts
and liabilities of said body corporate, except the present out-
standing bonded indebtedness thereof, and then for the pur-
pose of such improvement, repairs, construction and mainten-
ance as may be deemed proper by the said Mayor and City
Council of the public streets, ways and property of said city,
and for such other public improvements as in the judgment of
said Mayor and City Council may be for the general public