ALBERT C. RITCHIE, GOVERNOR. 447

said Mayor and City Council, shall bear interest at a rate to
be determined by said Mayor and City Council, payable semi-
annually, shall be dated on the date of their issue, and shall
mature not exceeding twenty years from the date of their issue,
or may be retired serially as said Mayor and City Council may
determine. Said bonds shall be exempt from all state, county
and municipal taxation and shall not be sold for less than the
par value thereof. They shall be signed by the Mayor and
counter-signed by the Treasurer, and attested by the Clerk to
the City Council with the corporate seal of the town of Laurel
attached.

SEC. 3. And be it further enacted, That the Mayor and City
Council of Laurel be and it is hereby authorized and directed
to levy each year so long as said bonds are outstanding and
not paid a tax sufficient to redeem the same at their maturity
and to pay the interest thereon, the proceeds of said tax to be
kept in a special fund and in no case to be used for any other
purpose. In case such bonds shall be issued in any year after
the making of the regular levy for that year, then the Mayor
and City Council of Laurel is authorized and directed to pay
any and all interest coming due before the next levy out of
any other funds in its disposal and to levy at the next suc-
ceeding levy to reimburse such other funds.

SEC. 4. And be it further enacted, That the Mayor and
City Council of Laurel be and it is hereby authorized and em-
powered to do all acts and things necessary to issue and sell
said bonds, to have the same registered if necessary, and to do
all things necessary to carry out the purposes of this Act, even
though the same may not be specifically mentioned herein or
in the charter of the town of Laurel or in any other Act relat-
ing to the said town.

SEC. 5. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety, and being
passed upon a nay and yea vote, supported by three-fifths of
all the members elected to each of the two houses of the Gen-
eral Assembly, the same shall take effect from the date of its
passage.

Approved April 2, 1929.