896 LAWS OF MARYLAND.

241Y. That to provide for borrowing the money, as author-
ized by the preceding Section, the Burgess and Commissioners
of Hancock are empowered to issue bonds in such denominations-
as they may determine, said bonds to be signed by the Burgess
and attested by the Clerk to the Burgess and Commissioners
with the seal of the town attached, and to bear interest at the
rate of five per centum per annum, payable on the first days of
January and July in each and every year, until the principal of
said bonds is paid; said bonds to have coupons attached, provid-
ing for the payment of the semi-annual interest thereon when
the same shall become due and payable; said bonds to be sold,
at public, or private sale, as said Burgess and Commissioners
shall deem best at not less than par value, and at such times and
in such amounts as said Burgess and Commissioners shall deter-
mine; provided that the whole amount of said bonds shall not
exceed Thirty Thousand Dollars. The money derived from the
sale of said bonds shall be paid to the Treasurer of the town, and
credited by him to "The Water and Sewer Fund," and he shall
not pay out the same for any other purposes than those author-
ized by this Act, and said bonds shall be exempt from all State,
County and Municipal taxes.

241Z. To provide for the payment of said bonds as author-
ized by Section 241Y of this Act, as they shall mature and for
the payment of the annual interest thereon, there shall be levied
by the Burgess and Commissioners annually, for five years, an
amount sufficient to pay the interest on the said bonds so issued,
and at the expiration of five years, there shall be levied annually
by the Burgess and Commissioners an amount sufficient to pay
the interest on the debt and One Thousand Dollars of the prin-
cipal of said debt, and the said bonds, when issued, shall be
made to fall due so as to be payable as herein provided. In the
event that in the operation of the water works, or sewerage sys-
tem, in this Act provided, there shall remain any funds in the
hands of the Burgess and Commissioners, as a profit, said Bur-
gess and Commissioners shall apply said funds, or such part
thereof as they may deem prudent, pro tanto to the payment of
the interest and principal of said bonds as the same may mature
instead of making a levy therefor.

241AA. The aforegoing Sections 241X, 241 Y, 241Z, shall not
be in force and effect unless a special election shall be called
by the Burgess and Commissioners of Hancock for the purpose
of submitting the matter of issuing the bonds provided in said
Sections to a vote of the voters of said town of Hancock qualified