886 LAWS OF MARYLAND.

shall be payable twenty years after date to bearer, redeemable,
however, at the pleasure of said Mayor and Council of Mt.
Airy at any time after the expiration of five years from their
respective dates, and shall bear interest in the meantime at the
rate of five per centum per annum, payable semi-annually, ac-

cording to the tenor of the coupons for said interest to be at-
tached to said bonds, which said bonds shall be sealed with the
corporate seal of said municipal corporation, and, together with
said coupons shall be signed by the Mayor and countersigned
by the clerk or register of said town; provided, however, that
said bonds shall not be sold for less than par or the face value
thereof in cash current money.

SEC. 2. And be it enacted, That the proceeds of the sale of

-the bonds hereby authorized to be issued shall be applied to the
purchase of the necessary ground and the erection thereon of a
Water and Electric Light and Power Plant and its complete
equipment and maintenance, for storing and supplying water
for fire protection and municipal and private purposes and for
lighting the public streets, lanes, alleys and public buildings of
said town of Mt. Airy and furnishing water, light, power and
heat to the citizens of said town, but nothing in this Act shall
be construed as authorizing said Mayor and Council of Mt.
Airy to furnish water, light, heat or power for private uses un-
less it can be done at a reasonable profit.

SEC. 3. And be it enacted, That the said Mayor and Council
of Mt. Airy shall have power and authority, and are hereby
required to levy all necessary taxes upon the propertly within
the taxable limits of said corporation, for the payment of the
interest on the bonds hereby authorized to be issued, as well as
for the payment of the said bonds at maturity, and shall create
a sinking fund for that purpose and levy the necessary taxes
therefor.

SEC. 4. And be it enacted, That before this Act shall become
operative to authorize the said The Mayor and Council of Mount
Airy to issue said bonds, the question shall be submitted to the
qualified voters of Mount Airy at the regular general election to
be held in May, 1914, for approval or rejection by such qualified
voters and in pursuance of the provisions of an ordinance to be
passed therefor, of which election and the fact that the question
is to be submitted to the voters notice shall be given for at least
ten days previous to such election, posted in five or more public
places in said town, explaining to the qualified voters the ques-
tion to be submitted, at which election the qualified voters of