ALBERT C. RITCHIE, GOVERNOR. 159

the municipal corporation of Cambridge, by the issue of in-
terest bearing coupon bonds, the. sum of twenty thousand
dollars, ($20, 000. 00).

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Commisisoners of Cambridge, in Dorchester
County, Maryland, are hereby authorized, empowered and re-
quired, for the purposes set forth in the preamble of this Act,
to borrow money on the faith and credit of the municipal cor-
poration of Cambridge, in Dorchester County, Maryland, to
the amount of twenty thousand dollars ($20, 000. 00), and to
issue bonds therefor, the said bonds to be issued in denomina-
tions of five hundred dollars ($500. 00), each, to bear interest
at the rate of either five per cent (5%) or four and one half
per cent (4 1/2%), whichever, in the discretion of the said Com-
missioners of Cambridge, shall seem best, payable semi-an-
nually, on the first day of January and the first day of July,
in each and every year, beginning with the first day of Janu-
ary after the issue of the said bonds, until all of the said bonds,
principal and interest, shall be fully paid, coupons to be at-
tached to the said bonds for each of the semi-annual interest
payments, the bonds and coupons thereon, to be both signed by
the mayor and the Treasurer of said town of Cambridge, the
said bonds to each bear the corporate seal of Cambridge.

The said bonds shall mature as follows: Five hundred dollars
($500. 00), or one of the said bonds on the second first day of
January after the issue of the bonds, or eighteen months after
the said issue, and five hundred dollars, or one bond, on each
first day of January thereafter, in each and every year, until
the whole issue of the said bonds, or issues, shall be fully paid,
redeemed and retired.

The said Commissoners of Cambridge, after the issue of
the said bonds for the whole amount of the said issue of twenty
thousand dollars, or any part thereof, the issue of any part
instead of the whole of said amount of twenty thousand dollars,
to be at the discretion of the said Commissioners of Cambridge,
shall annually levy upon all of the assessable property within
the corporate limits of Cambridge, in each year, a sum sufficient
to meet and promptly pay the interest on the said bonds, and
shall likewise levy upon the said assessable property a sum suffi-
cient to meet and pay the principal of each of the said bonds at
the time of the maturity of each of them, the said levy of taxes
for the payment of the said principal and interest, as aforesaid,
shall be made in the manner provided for the levying and col-