ALBERT C. RITCHIE, GOVERNOR. 321

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 at-
tested by the corporate seal of said town; and said bonds shall
be designated as "Denton Street and Public Improvement
Bonds" and shall be numbered consecutively from one to twelve,
inclusive, and shall bear interest at a rate to be determined by
resolution of the said the Commissioners of Denton not exceed-
ing four and one-half per cent. (4 1/2%) per annum, payable
semi-annually on the first day of May and November of each

and every year accounting from May 1st, 1927, and shall be
forever exempted from all taxation for State, County and
Municipal 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

their numerical order to the amount of one thousand dollars.
($1, 000. 00) in each and every year beginning May 1st, in the
year nineteen hundred and thirty-seven, and that said bonds
with interest thereon shall be paid and cancelled by the said
The Commissioners of Denton in the amount of one thousand
dollars ($1, 000. 00), during each and every year beginning as
aforesaid until the whole of said bonds shall have been paid,
and the date of issue shall be the same on all bonds under this
Act, which date shall be May 1st, 1927, and the same shall be
advertised by the Commissioners of Denton and sold to the
highest bidder for cash; but the right is reserved unto the Com-
missioners of Denton to reject any and all bids.

SEC. 5. And be it further enacted., That for the purpose of
securing the prompt payment of all instalments of interest
thereon as the same shall become due semi-annually as afore-
said and for the purpose of redeeming said bonds at maturity,
the Commisisoners of Denton are hereby authorized and directed
to levy annually a: special tax upon the assessable property of
the Town of Denton in such sum as may be necessary and suffi-
cient to pay the interest on said bonds semi-annually and to re-
deem one thousand dollars ($1, 000. 00) of said bonds annually
commencing May 1st, 1937, as aforesaid, until the same have
been fully redeemed and retired, and that the said special tax
hereby authorized to be levied in this Section shall be in addi-
tion to the amount already heretofore authorized by the Charter
11