844 LAWS OF MARYLAND.

Whereas, by said Act an additional amount of bonds to the
amount of three thousand dollars were authorized to be is-
sued by said municipal corporation, to bear interest from
date at a rate not exceeding four per centum per annum, pay-
able semi-annually, on the first day of October and the first
day of April of each year, said bonds to be issued in denom-
inations not exceeding five hundred dollars, to bear date
April 1st, 1905, and to be payable at a time not exceeding
thirty years from date, redeemable, however, at the pleasure
of said municipal corporation after the expiration of ten
years from their date; and,

Whereas, the said Burgess and Commissioners of Middletown
by virtue of the powers conferred by the aforesaid Acts, did
issue and sell said bonds to the amount aggregating thirteen
thousand dollars, said bonds being issued for the purpose of
redeeming other bonds issued prior thereto, which said last-
mentioned bonds were issued for the purpose of construct-
ing water works for said town; and,

Whereas, the increasing demands upon the water system' of
said town by reason of the growth of the population thereof,
and the increased demand for water, has necessitated the
purchase of additional ground and the construction of addi-
tional reservoirs and pumping stations in order to furnish
an adequate supply of water for said town; and,

Whereas, in the construction of said reservoirs and in making
the improvements to said water works aforesaid, the Burgess
and Commissioners found it necessary to incur an indebted-
ness in excess of the amount of money available for the pur-
pose from the ordinary resources of said town; therefore,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the said Burgess and Commissioners of Middletown,
Frederick County, Maryland, are hereby authorized and em-
powered to issue bonds in the name of said municipal corpora-
tion to an additional amount not exceeding twenty-five hun-
dred dollars, which said bonds shall be issued in sums of not
less than five hundred dollars each, sealed with the corpora-
tion seal signed by the Burgess and countersigned by the reg-
ister of said town, each of said bonds to be payable fifteen
years after their date, redeemable, however, at the pleasure of
said Burgess and Commissioners at any time after the expira-
tion of ten years from their respective dates, and to bear inter-
est not exceeding the sum of four and one-half per centum per
annum payable semi-annually.

SEC. 2. And be it enacted, That the proceeds realized from
the sale of said bonds shall be applied to the payment of the