ALBERT C. RITCHIE, GOVERNOR. 843

as aforesaid, which said issue of bonds shall be known and desig-
nated as "Salisbury Street Improvement Bonds, " and the
money arising from the sale of said bonds shall be applied
exclusively to the grading, paving curbing, draining or in any
other manner improving of the condition of the streets within
the corporate limits of the City of Salisbury.

SEC. 2. And be it further enacted, That to provide for the
borrowing of the money as authorized by the preceding sec-
tion hereof, the Mayor and Council of Salisbury is hereby au-
thorized and empowered to issue coupon bonds in such de-
nominations as the said The Mayor and Council of Salisbury

may determine by ordinance; said bonds to be signed by the
Mayor of Salisbury, with the seal of the City attached thereto,
attested by the Clerk of Salisbury, the coupons thereof to be
signed by the Mayor, or a fac-simile of his signature to be
stamped thereon, and to bear interest not to exceed five per
cent per annum, payable on the first day of April and the first
day of October of each year; said bonds when signed and at-
tested as heretofore directed shall be delivered to the Clerk of
Salisbury, and the bond of said Clerk of Salisbury shall be
responsible for the safekeeping of said bonds and the proceeds
thereof. The Clerk of Salisbury shall sell said bonds at public
auction or by sealed bids after giving at least two weeks' public
notice thereof in one or more newspapers published in

the City of Salisbury and in one or more newspapers published
in the city of Baltimore, under the supervision of, and at such
time as the Mayor and Council of Salisbury shall order, but
no bond shall be sold by sealed bids, except at prices approved
by The Mayor and Council of Salisbury. The said Clerk of
Salisbury shall deliver said bonds when sold to the purchaser
or purchasers thereof and receive the money therefor, including
any premiums thereon, and shall report under oath to The
Mayor and Council of Salisbury his proceedings in the prem-
ises as soon as possible after said sale, with the name or names
of the purchasers to whom said bonds have been sold and de-
livered, together with the amount received on each bond so
sold, and said money, including said premiums, if any shall be
credited by the Clerk of Salisbury on his books to '' The Street
Improvement Fund, " to be applied to the purposes specified
in Section 1 hereof, and to and for no other use and purpose;
and said bonds shall be exempt from State, county and munici-
pal taxation.