ALBERT C. RITCHIE, GOVERNOR 1235'

for cash, and providing that no bonds shall be sold except
at prices approved by the Mayor and Aldermen of Frederick.
The said bonds shall he exempt from State, County and
municipal taxation.

SEC. 4. And be it further enacted, That the Mayor and
Aldermen of Frederick are hereby authorized and empowered
to do all things necessary for the issuance of said bonds and
their offering for sale under the most advantageous condi-
tions, which they may think proper, said bonds to be issued in
such manner, to bear such dates, to be payable at such times
and to bear such rate of interest as the Mayor and Aldermen
of Frederick shall, by ordinance, provide. The said bonds
shall be signed by the Mayor and the City Register, and the
seal of the Corporation of Frederick shall he attached thereto.

SEC. 5. And be it further enacted, That the Mayor and
Aldermen of Frederick are hereby authorized and directed to
levy annually all necessary taxes for the payment of the
interest-on said bonds as the same shall become due and
payable and for the payment of the principal on said bonds
when same shall become due and payable. All bonds author-
ized to be issued under the provisions of this Act shall be
serial bonds, and a portion of the principal of said bonds
shall be made payable annually, and said bonds may be
issued in whole or in part at any time after the passage of
this Act, and they shall fall due and become payable at stated
periods and at such times they shall be taken up and redeem-
ed; providing that no series of bonds authorized to be issued
under this Act shall extend over a period of thirty-five years,
from the date of the issuance of said series. The Mayor and
Aldermen of Frederick are hereby authorized and empowered
to pass all ordinances and do all things necessary for the
purpose of carrying out the provisions of this Act.

SEC. 6. And be it further enacted, That the said the
Mayor and Aldermen of Frederick shall cause to he 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 the said bonds are regis-
tered.