228 LAWS OF MARYLAND. [CH. 138

Dollars ($20, 000. 00), and the proceeds derived from the sale
of said bonds shall be applied to the payment of the present
floating indebtedness of said Corporation, and for no other
use or purpose whatsoever.

SEC. 4. Be it enacted, That the Mayor and Aldermen of
Frederick is hereby authorized and empowered to provide by
ordinance or ordinances for the issue and sale of said bonds
for either or both of the purposes set forth in this Act, and
all bonds issued under the authority contained in this Act,
and in accordance with the ordinance or ordinances, passed in
pursuance thereof, for either or both of the purposes set forth
in this Act, may be issued and sold at one time and included
in one issue of bonds, or may be issued and sold at different
times and embodied in two issues of bonds.

SEC. 5. Be it enacted, That The Mayor and Aldermen of
Frederick is hereby authorized and empowered to sell said
bonds by bid upon sealed proposals, after having given at least
three weeks' public prior notice by advertisement in at least
two newspapers published in Frederick City, provided that said
bonds shall not be sold except for cash, and no bonds hereby
authorized to be issued shall be sold at less than their par
value. Said bonds when issued shall be exempt from State.
County and municipal taxation.

SEC. 6. Be it enacted, That the Mayor and Aldermen of
Frederick is hereby authorized and empowered to do all things
necessary for the issuance of said bonds and their offering for
sale under the most advantageous conditions, which it may
think proper, said bonds to be issued in such manner, for such
amounts to bear such dates, to be payable at such times and to
bear such rates of interest, as The Mayor and Aldermen of
Frederick shall by ordinance provide, and said bonds shall bo
signed by the Mayor and City Register and the seal of the
Corporation of Frederick shall be attached thereto.

SEC. 7. Be it enacted, That The Mayor and Aldermen of
Frederick is hereby authorized and directed to apply the avail-
able net receipts derived from the Water System belonging to
the Corporation of Frederick for the payment of the interest
on the bonds hereby authorized to be issued and for the pay-
ment of the principal of said bonds as the same shall become
due and payable; Provided, however, that if the available net.
receipts derived from water rents and applied to the payment
of the interest and principal on said bonds is not sufficient for