1060 LAWS OF MARYLAND. [CH. 404

alteration and maintenance of said water supply system; and
to provide for the punishment of persons violating the pro-
visions of this Act.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Commissioners of Ellicott City be, and they are
hereby, authorized and empowered to purchase from the owner
or owners thereof, the water supply system of the Ellicott City
Water Company, in whole or in part, and to extend, alter,
maintain and operate said system for the City of Ellicott City,
Howard County, Maryland, and for the purposes of this Act to
acquire, by purchase or condemnation, whatever property or
rights-of-way within or outside of the corporate limits of said
City of Ellicott City, that the said Commissioners may deem
necessary and proper, and to do whatever work, and employ
whatever help, is necessary therefor; and for the purpose of
raising the moneys necessary therefor, the said Commissioners
of Ellicott City are hereby authorized, empowered and directed,
to borrow on the faith and credit of said City, such sum or
sums of money, not exceeding in the aggregate Forty Thousand
Dollars ($40, 000. 00), as said Commissioners may deem necessary,
and to issue serial coupon bonds therefor, said bonds to be issued
in denominations of One Hundred Dollars ($100. 00) or any
multiple thereof, to bear interest at a rate not exceeding five
per centum per annum, payable semi-annually, on the first day
of January, and the first day of July in each year during which
said bonds shall be outstanding and remain unpaid, to be signed
by the President of the Commissioners of Ellicott City, and by
the Registrar of said City (provided that the coupons for the
interest thereon may be authenticated by the engraved, litho-
graphed or printed signature of the President of the Commis-
sioners of Ellicott City), to have the corporate seal of the
Commissioners of Ellicott City affixed thereto, and to be exempt
from all State, County and Municipal taxes. The said bonds
shall have written or printed on them a distinct reference to
the Act authorizing the issue, and shall be designated as "Elli-
cott City Water Bonds. "

SEC. 2. And be it further enacted, That said bonds shall be
dated the first day of January, or the first day of July, of the
year in which said bonds are issued, as said Commissioners may
determine, and shall be issued according to what is known as the
serial annuity plan, and the scries shall be lettered, beginning
with the letter "A, " and so on down the alphabet, until the said