112 LAWS OF MARYLAND. [CH. 53
CHAPTER 53.

AN ACT to authorize and empower the Commissioners of
Greensboro to borrow upon the faith and credit of said
town a sum not to exceed twenty thousand ($20, 000) dol-
lars for the purpose of paying outstanding bonds, providing
additional sewage facilities and for a public building, and
to issue and sell coupon bonds therefor, and to provide for
the payment of the same with interest thereon.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of paying bonds to the extent
of nine thousand and five hundred ($9, 500) dollars now out-
standing against the town of Greensboro, providing additional
sewerage facilities, and for a building for housing fire engine
and meeting of said Commissioners of Greensboro, the Commis-
sioners of Greensboro are authorized and empowered to borrow
on the faith and credit of the town of Greensboro, a sum of
money not exceeding twenty thousand ($20, 000) dollars, and
to issue coupon bonds therefor in sums of one thousand
($1, 000) dollars, to be signed by the President of the Com-
missioners of Greensboro and countersigned by the Secretary
thereof, and attested by the corporate seal of said town, and
shall be consecutively numbered from number one to twenty
inclusive, said bonds to bear interest at such rate as the said
Commissioners of Greensboro may determine, not exceeding
five per cent per annum, said interest to be payable semi-an-
nually on the first day of January and July in each and every
year and shall be forever exempt from all taxation for State,
County and Municipal purposes,

SEC. 2. And be it further enacted, That said bonds to be
Issued under this Act shall mature in numerical order to the
amount of one thousand ($1, 000) dollars in each and every
year beginning July 1, 1932, and that said bonds with in-
terest thereon shall be paid and cancelled by said Commis-
sioners of Greensboro to the amount of one thousand ($1, 000)
dollars during each and every year beginning as aforesaid, un-
til 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 July 1, 1929, and the same shall be advertised
by the Commissioners of Greensboro upon such notice as they
may deem advisable, and sold to the. highest bidder for cash,
but the right is reserved to reject any and all bids.