12 LAWS OF MARYLAND. [CH. 6

Hundred Thousand Dollars ($100,000.00), and to issue bonds
therefor. Such bonds shall be known as the "Sharpsburg
Water and Sewerage Bonds", shall be issued in denominations
of Five Hundred Dollars ($500.00) and One Thousand Dollars
($1,000.00), shall be of the serial type and shall bear interest
at not exceeding f our per cent. (4%) per annum, payable semi-
annually. Said bonds shall be so issued that all of said bonds
shall mature in not exceeding twenty-five (25) years from the
date of issue and shall be and remain exempt from state, coun-
ty and municipal taxation. Said bonds shall be signed by the
Mayor and Clerk of Sharpsburg and shall have the seal of the
Town of Sharpsburg attached thereto.

SEC. 2. And be it further enacted, That the Mayor and
Council of Sharpsburg shall not issue or sell any of the bonds
authorized by this Act until an ordinance has been passed sub-
mitting the question as to the issuance of said bonds to the
voters of said town for approval or rejection and said Mayor
and Council shall have the authority to submit allor any por-
tion of said bonds at any one time and may submit and re-
submit same at any regular election or' any special election
which may be called for that purpose, in acordance with the
ordinance submitting same. Notice shall be given by at least
three insertions in some newspaper published in Washington
County, at least two weeks prior to such election, and notice
shall also be posted in at least six places in said town. The
Mayor and Council shall also have authority to re-submit, from
time to time, the question as to the issuance of all or any por-
tion of the bonds authorized by this Act.

On the ballot or ballots to be used at said election or elec-
tions, there shall be printed the words "For Water and Sewer-
age Bonds'' and to the right and opposite said words a square
or box, and "Against Water and Sewerage Bonds" and to the
right and opposite said words a square or box, so that each
voter shall have the opportunity to express his or her choice
on said question. If a majority of the votes cast on said ques-
tion shall be "For Water and Sewerage Bonds", then the pro-
visions of this Act shall become effective and the amount of
bonds so approved may be issued, in accordance with the pro-
visions of this Act, If a majority of the votes cast thereon
shall be "Against Water and Sewerage Bonds", then the provi-
sions of this Act shall not become effective unless the question
is again submitted, in accordance with the provisions of this
Act, and is approved by a majority of the voters voting thereon.

SEC. 3. And be it further enacted, That the Mayor and
Council of Sharpsburg may provide for the sale of all or a
part of said bonds at one time, or from time to time as it shall