ALBERT C. RITCHIE, GOVERNOR. 11

necessary for the said Mayor, Counselor and Aldermen to
secure by borrowing approximately the sum of $28, 000. 00
to pay the portion of the expense allotted to it so as to avail
itself of the assistance of the State of Maryland, through the
State Roads Commission.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor, Counselor and Aldermen of the City of
Annapolis be and it is hereby authorized and empowered to
issue bonds on the credit of the said Mayor, Counselor and
Aldermen of the City of Annapolis to the amount of $100, 000. 00,
and said bonds shall be exempt from State, County and Muni-
cipal taxation: said bonds to be signed by the Mayor of Ann-
apolis and attested by the City Clerk thereof, with the corporate
seal of the said City attached thereto; said bonds to bear inter-
est at the rate of not over five and one half per centum per
annum, as determined by said Mayor, Counselor and Aldermen
of the City of Annapolis, said interest to be paid semi-annually
upon the presentation; of interest coupons which are to be at-
tached to said bonds, and the said Mayor, Counselor and Alder-
men of the City of Annapolis are hereby authorized and em-
powered to determine all other matters connected with the
character of said bonds and the method and incidents of their
issue, not in conflict with the provisions of the Act; and said
bonds are to mature and shall be payable by The Mayor, Coun-
selor and Aldermen of the City of Annapolis as follows: $5, 000
in the year 1927; $5, 000 in the year 1928; $5, 000 in the year
1929; $5, 000 in the year 1930; $5, 000 in the year 1931; $5, 000
in the year 1932; $5, 000 in the year 1933; $5, 000 in the year
1934; $5, 000 in the year 1935; $5, 000 in the year 1936: $5, 000
in the year 1937; $5, 000 in the year 1938; $5, 000 in the year
1939; $5, 000 in the year 1940; $5, 000 in the year 1941; $5, 000
in the year 1942; $5, 000 in the year 1943; $5, 000 in the year
1944; $5, 000 in the year 1945; $5, 000 in the year 1946, said
payments to be made on the same month and day in each year
as of the issuance of said bonds.

SEC. 2. And be it enacted, That the Mayor, Counselor and
Aldermen of the City of Annapolis shall proceed promptly upon
the passage of this Act to advertise the sale of said bonds, having
first determined the rate of interest they shall bear and all other
incidents in connection with the said bonds not provided in this
Act. The said bids shall be filed with the City Clerk of Ann-
apolis, and shall be opened at the advertised time at a public
meeting of the Mayor, Counselor and Aldermen of the City of