192 LAWS OF MARYLAND. [CH. 132

not to exceed in the aggregate the sum of Thirty-five Thou-
sand Dollars, bearing date January 1, 1928, in the sum of
One Thousand Dollars each, which bonds shall be designated
as "'Series B, " and be numbered consecutively One to Thirty-
five, inclusive, and be signed by the Mayor and countersigned
by the Treasurer with the corporate seal affixed, and bear
interest at a rate to be fixed by the Mayor and Common
Council not to exceed four and one-half per cent., payable
semi-annually on the first of July and January in each year,
and mature and be payable two a year in the consecutive order
of their numbers after the year 1939, Bond number "1" of
this series falling due and being payable January first 1940,
and Bond Number "2" falling due and being payable July
1, 1940, and the rest of said bonds of Series "B" continu-
ing to fall due and being payable two a year on the first day
of January and the first day of July of each year thereafter
in their numerical order, until all the bonds of the issue of
Series B are 'retired and redeemed as herein provided.

The Mayor and Common Council of Westminster, may also
in its discretion provide for the redemption of said bonds
of both or either series, at any interest bearing period before
maturity, upon such notice and conditions, and with or with-
out a premium as it may be determined. The bonds shall
be sold at public sale for such price, in such number and
amount, and on such terms and conditions, as the Mayor and
Common Council may deem advisable, but not for less than
their par value and accrued interest.

SEC. 3. And be it further enacted, that the money derived
from the sale of said bonds shall be used and applied ex-
clusively to the paving and improving of the streets, curbs,
and gutters of the town, heretofore decided upon by the Mayor
and Common Council of Westminster, as appears from their
minutes in such order as said Mayor and Common Council
may direct, and for no other purpose, save that, out of said
money shall be paid the cost and expense incurred in the
preparation, issuing and sale of said bonds, and the two notes
of the town given for money borrowed and expended in the
repair of the streets of the municipality in the year 1926
amounting to Two Thousand Dollars; and pending the sale
of Series A of said bonds in the year 1927, the Mayor and
Common Council of Westminster, if it has started work on
the improvements of said streets of the City, may borrow
such sums of money as required from time to time to proceed
with the street work to be repaid immediately from the money
derived from the sale of the bonds of Series A.

SEC. 4. And be it further enacted, that the said Mayor
and Common Council of Westminster are authorized and re-