32 LAWS OF MARYLAND. [CH. 19

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That for the purpose of establishing, constructing and
maintaining waterworks and water distribution system capable
of furnishing the residents of Williamsport with good and suf-
ficient supply of water, the Burgess and Commissioners of
Williamsport be and they are hereby authorized and directed
to borrow money on the credit of said town to an amount Dot
exceeding one hundred thousand dollars ($100, 000), and to
issue registered coupon bonds of said town in payment of the
said sum, or so much thereof as is necessary for the establish-
ment and construction of the same, and the accrued interest
thereon. The said bonds shall be issued in sums of not less than
five hundred dollars ($500) nor more than one thousand dollars
($1, 000) and the interest thereon, payable semi-annually, at a
rate not exceeding five per centum per annum, and shall each
be signed by the Burgess and countersigned by the Clerk to
the Burgess and Commissioners of Williamsport, with the cor-
porate seal of said town affixed, and shall be registered by said
clerk in a book to be especially provided for that purpose. The
said bonds shall be issued at such times and for such term of
years as the said Burgess and Commissioners shall determine.
They shall be sold at public or private sale as the said Burgess
and Commissioners shall decide if for the best interest of the
taxpayers of said town, and shall not be sold for less than
their par value; they shall be exempt from municipal, county
and state taxation, and shall have printed on them a distinct
reference to the Act of Assembly authorizing their issue.

SEC. 2. And be it further enacted, That the Burgess of Wil-
liamsport, as soon after this Act becomes effective, as it is pos-
sible so to do, by and with the advice and consent of the Com-
missioners of said town, shall appoint from the taxpayers of
said town, four persons of proper personal qualification, who,
together with the Burgess shall constitute and be a Water
Board, and shall have charge of the construction and manage-
ment and maintenance of said waterworks and water distri-
bution system. They shall appoint from their own number a
Treasurer who shall give bond to be approved (both as to
amount and sureties) by the said Water Board for the faithful
performance of his duties as such Treasurer. The said Treas-
urer shall receive the proceeds of sale of said bonds or any other
money which may be received on account of water works and
water distribution system, shall deposit the same in a bank to be
designated by said Water Board, and shall disburse the same on