92 LAWS OF MARYLAND. [CH. 45

be consecutively numbered from one to twelve, inclusive, and
shall bear interest at the rate of five per cent per annum,
payable semi-annually, on the first day of January and July
of each and every year, accounting from January 1, 1920; and
shall be forever exempt from all taxation for State, county
and municipal purposes, and shall have printed on them a
distinct reference to this Act authorizing their issue.

SEC. 3. That said bonds to be issued under this Act shall
mature in numerical order to the amount of one thousand
($1,000.00) dollars in each and every year, beginning Janu-
ary first in the year 1925, and that said bonds with interest
thereon shall be paid and cancelled by said Mayor and Coun-
cil of Easton to the amount of one thousand ($1,000.00) dol-
lars during each and every year beginning as aforesaid, until
the whole of said bonds shall have been paid, and the date
of issue shall be the same on all bonds under this Act,
which date shall be January 1, 1920, and the same shall he
advertised by the Mayor and Council of Easton and sold to
the highest bidder for cash, but the right is reserved to reject
any and all bids.

SEC. 4. That for the purpose of redeeming said bonds at
maturity and for the purpose of securing prompt payment
of the interest thereon, the Mayor and Council of Easton shall
levy annually upon the assessable propert.y of the town such
sums as may be necessary to pay interest on said bonds semi-
annually and to redeem one thousand ($1,000.00) dollars of
said bonds annually, beginning January 1, 1925. as aforesaid.
SEC. 5. That all provisions of the Charter of Easton con-
trary to the intent and purpose of this Act are hereby re-
pealed for the purposes of this Act, and in so far as they are
inconsistent herewith.

SEC. 6. And be it further enacted. That this Act shall he-
come operative and effective from the date, of its approval
by a majority of the votes of the legal voters of the town of
Easton cast thereon at a special election to be held in the
town of Easton as hereinafter provided, and shall not become
operative unless so approved.

SEC. 7. And be it further enacted. That this Act shall be
submitted to the legal voters of the town of Easton for their
approval or disapproval at an election to be held in the town
of Easton at such time and place during the calendar year
1920 as the Mayor and Council of Easton may prescribe by