804 LAWS OF MARYLAND.

poration of Frederick, such sum or sums of money, as it shall
think proper for municipal purposes, provided that not more
than twenty thousand dollars shall be borrowed, as a floating
debt, in any one year, which year, for the purposes of this
Act, shall begin on the first day of October and continue
until the thirtieth day of September following, in each and
every year, commencing with the year nineteen hundred and
fourteen, and provided further that the Mayor and Alder-
men of Frederick shall levy, in each and every year, a suffi-
cient tax to pay off all monies borrowed, together with the
accumulated interest thereon, during the current year, dating
from the first day of October to the thirtieth day of Septem-
ber following, and apply the amount so levied to the pay-
ment of any such indebtedness, and provided further that
at no time shall the floating indebtedness of the corporation
exceed the sum of twenty thousand dollars, provided, how-
ever, that the provisions of this Act shall not apply to any
indebtedness, either now or hereafter incurred, for which
bonds have been or may hereafter be issued, under the pro-
visions of law or ordinance.

SECTION 1. Be it enacted, That the Mayor and Aldermen
of Frederick are hereby authorized and empowered to borrow
upon the faith and credit of the Corporation of Frederick,
such sum or sums of money, at a rate of interest not exceeding
six per cent, per annum, as it shall think proper, for municipal
purposes, with full power to issue the promissory note or
notes, obligation or obligations, of the Corporation of Fred-
erick for the amount authorized to be borrowed by this Act, or
any part thereof; provided, that not more than twenty thous-
and dollars shall be borrowed in any one year, which year, for
the purposes of this Act, shall begin on the first day of October
and continue until the thirtieth day of September following,
in each and every year, commencing with the year nineteen
hundred and fourteen; and provided, further, that the Mayor
and Aldermen of Frederick shall levy, in each and every year, a
sufficient tax to pay off all money borrowed, together with the
accumulated interest thereon, during the current year, dating
from the first day of October to the thirtieth day of September
following, and apply the amount so levied to the payment of
any such indebtedness; provided, further, that at no times shall
the floating indebtedness of the Corporation of Frederick ex-
ceed the sum of twenty thousand dollars.