100 LAWS OF MARYLAND. [CH. 33

Sewer Bonds of 1925, and to refund $100, 000. 00 5%
Frostburg Improvement and Refunding Floating Debt
Bonds of 1927.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and Councilmen of Frostburg
be, and it is hereby authorized and empowered to issue
bonds of said Corporation to an amount not exceeding
$180, 000. 00 to refund $50, 000. 00 of the 5% Frostburg
Street Improvement Bonds of 1922, as authorized by Chap-
ter 5, of the Acts of 1922, and to refund $30, 000. 00 of the
5% Sewer Bonds of 1925, as authorized by Chapter 810,
of the Acts of 1914, and to refund $100, 000. 00 of the 5%
Frostburg Improvement and Refunding Floating Debt
Bonds of 1927, as authorized by Chapter 638, of the Acts
of 1927, said bonds shall be in denominations of not less
than $100. 00 or more than $1, 000. 00, and shall be forever
exempt from State, County and Municipal taxes, and shall
be signed by the Mayor of said Municipal Corporation and
attested by its City Clerk, with its corporate seal attached,
and shall bear interest at the rate of not more than 4% per
annum, payable semi-annually, for which interest coupons
are to be attached thereto; said bonds when issued shall
have written or printed on them a distinct reference to
the Act authorizing the issuance of the same and shall be
designated "Frostburg Improvement and Refunding Float-
ing Debt and Sewer Bonds of 1936. "

SEC. 2. And be it further enacted. That the said
bonds shall become due and payable at a time not exceeding
twenty-five years after their date, and shall be redeemable
at the pleasure of said Corporation at any time after five
years from their date. Before said bonds are issued the
Mayor and Councilmen shall cause an advertisement to be
inserted in at least two daily newspapers printed and cir-
culated in Allegany County, once a week for not less than
two consecutive weeks, asking bids on said bonds and stat-
ing the time and place when and where the bids will be
opened. Said bids shall be filed with the City Clerk and at
the time advertised shall be opened by him in the presence
of the Mayor and Councilmen in public meeting; and if
the said bids are satisfactory, the Mayor and Councilmen
shall sell the said bonds to the highest bidder or bidders.
The Mayor and Councilmen may, if in their opinion the
bids are insufficient or unsatisfactory, or for any reason,
refuse any and all bids and may re-advertise for further