708 LAWS OF MARYLAND. [CH. 194

for general purposes, of not over or exceeding fifteen cents on
each one hundred dollars of the assessable property within the
limits of the said town of Laurel, in addition to the taxes now
levied, in the discretion of the said Mayor and City Council,
for the year nineteen hundred and twenty-five and annually
thereafter.

SEC. 2. And be it enacted, That this Act shall take effect
on the first day of June, nineteen hundred and twenty-four.

Approved April 9, 1924.

CHAPTER 194.

AN ACT directing and requiring the Mayor and City Council
of Laurel to place in the electric light bond sinking fund
and interest accounts the annual payments from the An-
napolis and Chesapeake Bay Power Company.

WHEREAS, The Mayor and City Council of Laurel hereto-
fore issued bonds for the building and equipment of an elec-
tric light plant in the said town of Laurel, which said plant
has been sold to the Annapolis and Chesapeake Bay Power
Company upon the terms of twenty-five annual payments of
twenty-five hundred dollars each, payable on the first day of
July in each and every year, accounting from July 1, 1923;
therefore,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Laurel be and it
is hereby directed and required to apply the annual payments
of twenty-five hundred dollars received from the Annapolis
and Chesapeake Bay Power Company as purchase money for
the said electric light plant sold to it, commencing with the
payment due on the first day of July, nineteen hundred and
twenty-four, first, to the sinking fund for the redemption of
the said electric light bonds the sum of eight hundred dollars,
and as to the balance of said payments to set the same aside
towards the payment of interest to accrue due on the said
bonds.

SEC. 2. And be it enacted, That this Act shall take effect
on the first day of June, nineteen hundred and twenty-four.

Approved April 9, 1924.