PHILLIPS LEE GOLDSBOROUGH, GOVERNOR. 731

WHEREAS, Said corporation issued its coupon bonds authorized
by said Act to the amount of twenty thousand dollars, and the
money arising from, the sale of said bonds has been properly
applied to the payment of the cost of said plant, leaving said
corporation indebted on account of the cost of said plant to the
extent of forty-five hundred dollars; and

WHEREAS, Said corporation is without the means of paying
said indebtedness; therefore,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Town Commissioners of Centreville be and it is-
hereby authorized, empowered and directed to borrow on the
faith and credit of said corporation a sum of money not to.
exceed the sum of forty-five hundred dollars, and to issue coupon
bonds in the name of said corporation for the amount so bor-
rowed, each bond to be issued for the sum of five hundred dol-
lars, and to be signed in the name of said corporation by the
three municipal commissioners thereof, and the seal of said cor-
poration is to be affixed to each bond by said Commissioners,
but the coupon for the interest may be authenticated by the
engraved lithographed or printed signature of the Treasurer..
Said bonds shall bear interest at the rate of five per centum per
annum, payable semi-annually in each and every year, and shall
be dated on the first day of the issue and shall be numbered con-
secutively, commencing with the number "one," and Bond No.
1 shall be due and payable twenty-one years after date, and
thereafter one bond shall mature and be payable in each con-
secutive year from the date of maturity of Bond No. 1 in the
order of their consecutive numbers. Said bonds shall have
printed on them a distinct reference to this Act as directing
their issue, and shall be called or known as "Electric Light
Plant Bonds, Series No. 2," and shall be exempt from taxation
for State, County and Municipal purposes. After the expira-
tion of twenty years from the date of the issue of said bonds
said corporation may, from time to time, redeem the same, or
any part of them, and whenever it shall determine to redeem
and pay off a part of said bonds, it shall have the right to deter-
mine by lot which of said bonds are to be redeemed, and when
said bonds are selected for redemption said corporation shall
give notice by advertisement in two newspapers published in the
town of Centreville of the number of the bonds called in and
when and where they are to be paid, and the interest on the
bonds so called in shall cease after the date fixed for their
redemption.