744 LAWS OF MARYLAND. [CH. 232

and Third Street from its intersection with Market (some-
times called Main) Street to its intersection with Franklin
(sometimes called Lowe) Street.

SEC. 2. And be it further enacted, That the Commissioners
of Denton be and are hereby authorized and directed to as-
sess toward the cost and expense of the aforesaid improvement
of Franklin Street, Second Street and Third Street, as set forth
in Section 1 of this Act, a sum not to exceed one dollar and
fifty cents ($1. 50) per lineal foot upon the owner or owners
of the abutting property, the same being owned by either an
individual, firm or corporation, which said assessment shall be
due and payable to the Treasurer of the Town of Denton in the
following instalments, to wit: one-third when the work of the
grading is begun; one-third when the paving is fifty per cent.
(50%) completed; and one-third when the work is completed
and accepted by the Commissioners of Denton, and said assess-
ment shall be a lien upon the abutting property and shall be
collectible in the same manner as other taxes are now collect-
ible in the Town of Denton as prescribed by law.

SEC. 3. And be it further enacted, That for the purpose of
providing for the payment of that part of the balance of the
cost of the construction and improvement of the streets set
forth in Section 1 of this Act not covered by the assessment
authorized and directed by Section 2 of this Act, the Commis-
sioners of Denton be and are hereby authorized and directed
to borrow on the faith and credit of the Town of Denton the
sum of fifteen thousand dollars ($15, 000. 00) and to issue
coupon bonds therefor in sums of one thousand dollars ($1. -
000. 00) to be signed by the President of the Commissioners
of Denton and countersigned by the Treasurer of the Town of
Denton and attested by the corporate seal of said town: and
said bonds shall be designated as "Denton Public Improvement
Bonds" and shall be numbered consecutively from one to fif-
teen, inclusive, and shall bear interest at a rate to be deter-
mined by resolution of the said the Commissioners of Denton
not exceeding five per cent. (5%) per annum, payable semi-
annually on the first day of May and November of each and
every year accounting from May 1st, 1924, and shall be for-
ever exempted from all taxation for State, County and Munic-
ipal purposes in the State of Maryland, and shall have printed
on them a distinct reference to this Act authorizing their issue.

SEC. 4. And be it further enacted, That the said bonds to
be issued under Section 3 of this Act shall mature annually in