1502 LAWS OF MARYLAND. [CH. 525

ceeding thirteen thousand ($13,000.00) dollars, in sums of
one hundred ($100) dollars, they to be sealed with the cor-
porate seal of said town, signed by the Mayor and counter-
signed by the Clerk of the Council of said town, to be desig-
nated as "Rock Hall Electric Light Bonds,'' bearing interest at
a rate not exceeding six per cent, per annum, payable semi-
annuallv on the 1st dav of July and the 1st dav of January of

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each year, which bonds shall be exempt from all county and
Municipal taxation, and the due or overdue coupons for in-
terest shall be received by the Mayor and Councilmen of Rock
Hall in payment of town taxes. Said bonds shall be payable
in sums of eight hundred ($800.00) dollars in each of the
years beginning with the 1st day of July, 1923, and each year
thereafter until fully paid. Said bonds to be numbered con-
secutively and to be redeemed in the order in which they are
numbered. Said bonds shall be redeemable at the option of the
Mayor and Councilmen of Rock Hall after six years from the
date of the issue.

SEC. 2. And be it further enacted, That the Mayor and
Councilmen of Rock Hall are authorized and directed to ad-
vertise at least once a week for three successive weeks in two
newspapers published in Kent County, and such other places
as they may deem proper, for sealed proposals for the negoti-
ations of said bonds, and on a certain day to be named in said
advertisement, the Mayor and Councilmen of Rock Hall shall,
in the presence of such persons as may be interested in said
bids, open all bids received and award the bonds to the highest
bidder; provided, no bid less than par shall be received, and
reserving the right to reject any and all bids.

SEC. 3. And be it further enacted., That the Mayor and
Councilmen of Rock Hall shall create an annual sinking fund
beginning with the year 1922 for the payment of interest and
for the redemption of said bonds,, and if said sinking fund
cannot be made sufficient under the present authorized levy to
pay the interest on said bonds and the proportionate part of
said bonded debt as it matures, the Mayor and Councilmen of
Rock Hall are hereby authorized to levy and collect annually
a tax upon the taxable property in Rock Hall for a sum suffi-
cient to provide for the payment of any such deficiency of in-
terest on said bonds as they mature and any deficiency on the
proportionate part of the principal of said bonded debt as said
bonds mature.