64 LAWS OF MARYLAND. [CH. 36

ed to exchange said bonds, in like denominations and amounts,
with all holders of bonds now issued upon the credit of said
town of La Plata, to the end that all such bonds now out-
standing may be redeemed and canceled on the first day of
July, 1920; and in event the said holder or holders of out-
standing bonds do not desire to accept new bonds, in like
denominations and amounts in lieu of the outstanding bonds
so held by them, or any of them, then, and in said event, the
said Town Commissioners shall be, and they are hereby au-
thorized, empowered and directed to sell bonds issued under
authority of this Act, to the best advantage, at public sale, at
such time and upon such notice as they may deem expedient,
to the extent of the amount of the bonds so held and not ex-
changed, provided, however, that they shall not sell any of
the bonds authorixed to be issued under this Act for less than
par, or the face value thereof, and that the terms of such sale
or sales shall be cash.

SEC. 4. And be it further enacted, That the said Town
Commissioners shall, in each and every year, set aside as a
sinking fund, for the purpose of providing for the redemp-
tion of the refunding bonds issued in pursuance of this Act, at
least twenty per centum of the annual town taxes levied and
collected by them, and to redeem, from time to time, after the
period of five years, such bond or bonds as the sinking fund
created hereby will permit.

SEC. 5. And be it further enacted, That upon the annual
road fund for Charles County, which shall be levied for the
year 1920, and during each succeeding year, the Board of
County Commissioners, or the duly constituted road authori-
ties for said county, shall issue a warrant upon the Treasurer,
of said county, for one-half of such sum as may be collected
upon the taxable property within the corporate limits of the
town of La Plata, for road purposes: which said warrant shall
be payable to the Town Commissioners of La Plata, and shall
be expended by them for street and road improvement within
the limits of said town.

SEC. 6. And be it further enacted. That Section 105 of
Article 9 of the Code of Public Local Laws of Maryland, title
"Charles County," sub-title "La Plata," as amended by
Chapter 518 of the Acts of 1900, be and it is hereby repealed
and re:enacted with amendments fo read as follows: