226 LAWS OF MARYLAND. [CH. 138

any bonds of the said City may be invested in the bonds hereby
authorized to be issued. The Mayor and Aldermen of Fred-
erick is hereby authorized and empowered to pass all ordi-
nances and do all things necessary for the purpose of carrying
out the provisions of this Act.

SEC. 8. Be it enacted, That The Mayor and Aldermen of
Frederick shall cause to be kept a careful register of the bonds
authorized to be issued and sold under this Act and of the
transfers thereof; and as the same are collected in and paid off,
they shall be cancelled, and a record of the cancellation by
numbers, amounts and names of the last holders of said bonds
shall be made and entered upon the books in which said bonds
are registered.

SEC. 9. Be it enacted, That this Act shall take effect from
the first day of June, 1916, and that all Acts or parts of Acts
inconsistent with the provisions of this Act be and the same
are hereby repealed to the extent of such inconsistency.

Approved March 31st, 1916.

CHAPTER 138.

AN ACT to authorize and empower The Mayor and Aldermen
of Frederick to issue and sell serial coupon bonds for either
or both of the following purposes: First, for the purpose of
refunding to certain citizens of Frederick certain sums of
money advanced by them in pursuance of a motion passed
by the Board of Aldermen of Frederick on the 7th da}' of
June, 1915, providing for the construction of a water main,
subsequently laid by The Mayor and Aldermen of Frederick
in pursuance of an Ordinance enacted and ordained by the
Corporation of Frederick on the 14th day of June, 1915,
and to pay all additional costs and expenses incurred by the
Corporation of Frederick in the laying of said water main;
Second, for the purpose of bonding the floating indebted-
ness of the Corporation of Frederick; and to provide for the
payment of the interest on said bonds, and for the payment
of the principal thereof from the available net receipts de-
rived from the Water System belonging to the Corporation
of Frederick, provided however, that if the available net re-
ceipts derived from water rents and applied to the payment
of the interest and the principal on said bonds is not suffi-