LAWS OF MARYLAND. [CH. 74

($19, 000. 00) Dollars has been paid by the Mayor and Council-
men of Frostburg and Thirty-six Thousand ($36, 000. 00) Dol-
lars of which amount is still outstanding and will fall due in
the year 1928; and

WHEREAS, it is desirable and to the interest of the Mayor and
Councilmen of Frostburg that the said Bonds be refunded and
the time of payment extended and new Bonds issued.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That for the purpose of redeeming and extension of the
time of payment of Thirty-six Thousand ($36, 000. 00) Dollars
of the Bonds issued by the Mayor and Councilmen of Frostburg
under Chapter 69 of the Acts of the General Assembly of Mary-
land of 1898, which will fall due in 1928, that the Mayor and
Councilmen of Frostburg, Maryland, be and it is hereby au-
thorized and empowered to issue bonds on the faith and credit
of said Municipal Corporation to an amount not exceeding Thir-
ty-six Thousand ($36, 000. 00) Dollars, the proceeds of sale there-
of to be applied to pay off the said Thirty-six Thousand ($36, -
000. 00) Dollars of Bonds issued and now outstanding1 by the
Mayor and Councilmen of Frostburg pursuant to Chapter 69
of the Acts of the General Assembly of Maryland of 1898, widen
fall due in 1928, said Bonds to be issued in denominations of not
less than One Hundred ($100. 00) Dollars nor more than One
Thousand ($1, 000. 00) Dollars each, that said Bonds shall bear
interest not exceeding 5% per annum payable semi-annually
from the date of said Bonds; which interest may be evidenced
by coupons to be attached thereto, said Bonds to be signed by
the Mayor of Frostburg, sealed with the corporate seal of the
corporation and attested by the Clerk thereof; said Bonds to be
payable to the amount of Five Thousand ($5, 000. 00) Dollars in
each year after the year of their issuance, according to the serial
number of said Bonds; but before said Bonds are issued, the
Mayor and Councilmen of Frostburg shall cause an advertise-
ment to be inserted in at least two daily newspapers printed and
circulated in Allegany County once a week for not less than two
consecutive weeks, asking for bids upon said Bonds and stating
the time and place when and where said bids will be opened, said
bids shall be filed with the City Clerk and at the time adver-
tised, shall be opened by him, in the presence of the Mayor and
councilmen in public meeting; and if said bids are satisfactory
the Mayor and Councilmen shall sell the said Bonds or any part
thereof to the highest bidder or bidders. The Mayor and Coun-
cilmen may, if in their opinion the bids are insufficient and un-
satisfactory, or for any reason, refuse any and all bids, and may
re-advertise for further bids as above specified from time to
time until all of said Bonds are sold.