ANNE ARUNDEL COUNTY. 551

for the purpose of providing payment for such permanent im
provements as may be found necessary; provided that before
said loan has been contracted and such bonds issued such im-
provements and the approximate amount to be expended
therefor shall receive the assent of a majority of the votes of
the taxpayers.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor, Counselor and Aldermen of the City of
Annapolis, a municipal corporation, is hereby authorized and
empowered to borrow on the faith and credit of the said corpora-
tion a sum of money not to exceed twenty-four thousand dollars
($24,000), and to issue bonds therefor in addition to all other
indebtedness of the said corporation under the conditions here-
inafter set forth.

SEC. 2. Be it enacted, That the said Mayor, Counselor and
Aldermen of the City of Annapolis is hereby authorized and
empowered to enact an ordinance or ordinances, setting out the
purposes for which the money provided under this Act shall be
applied, and the approximate cost of each item of expenditures,
and to submit the same to the taxpayers at an election to be
called for that purpose, which said election shall in all particu-
lars not herein provided for be held under the supervision and
direction of said Mayor, Counselor and Aldermen of the City
of Annapolis, and this Act shall not be effective unless a
majority of the taxpayers shall, by their votes at such election,
declare their assent to the borrowing of said money and the
issuing of the bond mentioned in said ordinance, and to the pur-
pose to which said money shall be applied.

SEC. 3. And be it enacted, That the Mayor, Counselor and
Aldermen of the City of Annapolis, in the event of the approval
of such ordinance by a majority of the taxpayers voting, is
hereby authorized and empowered to do all things necessary
for the issuing of such bonds, their offering for sale under the
most advantageous terms and conditions, the providing for the
sinkng fund for the purpose of meeting the interest on such
bonds and their payment upon maturity, and all other things
that may be necessary and proper in the procuring of the loan,
the issuing and payment of bonds and the carrying on of the
works provided under the ordinance hereinbefore authorized.

SEC. 4. And be it enacted, That the bonds herein provided
for shall bear interest at the rate of four per centum per annum
and shall be forever exempt from all taxation for county,
municipal and school purposes; but said bonds shall not, how-
ever, be sold for less than their par value.