176 LAWS or MARYLAND. [CH. 86

SEC. 4. And be U further enacted, That the Mayor and
Aldermen of Frederick are hereby authorized and empowered
to do all things necessary for the issuance of said bonds, or
any part thereof, and their offering for sale under the most
advantageous conditions, which they may think proper, said
bonds to be issued in such manner, for such amounts, to bear
such dates, to ho payable at such times and to bear such rate
of interest as the Mayor and Aldermen of Frederick shall by
ordinance or ordinances provide, and said bonds shall be signed
by the Mayor and City Register and the seal of the corporation
shall be attached thereto.

SEC. 5. And be it further enacted, That the Mayor and
Aldermen of Frederick may also provide, by ordinance or ordi-
nances, for the registration of any bonds authorized to be
issued under this Act, in the names of the owners thereof, in
the event said owners desire to have said bonds registered. Any
bonds issued under this Act which are redeemed and paid off
shall be cancelled.

SEC. 6. And be it further enacted, That the Mayor and
Aldermen of Frederick are hereby authorized and directed to
apply the available net receipts derived from the water system,
belonging to the corporation of Frederick, and to levy all
necessary taxes upon the taxable property within the corporate
limits of said corporation, for the payment of the interest on
said bonds and for the payment of the principal thereof, as the
same shall fall due and become payable. All bonds authorized
to be issued under this Act shall be what are known as Serial
Bonds, and a portion of the principal of any issue of bonds
authorized by this Act, shall fall due and become payable at
stated periods, at which, times they shall be paid off and re-
deemed, in the manner provided by ordinance or ordinances of
the Mayor and Aldermen of Frederick; provided that no series
of bonds, authorized to be issued under this Act, shall extend
over a period of more than thirty-five years from the date
of the issuance of said series. The sinking funds of any bonds
of said corporation may be invested in the bonds hereby author-
ized to be issued. The Mayor and Aldermen of Frederick are
hereby authorized and empowered to pass all ordinances for
the purpose of carrying out the provisions of this Act.

SEC. 7. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and being
passed upon a yea and nay vote supported by three-fifths of all