HARRY W. NICE, GOVERNOR. 283

incidental to such repairs and replacements; to provide:
(a) for the advertisement and sale of the said bonds; (b)
for their redemption at maturity; and (c) for the pay-
ment of interest thereon, when and as such interest be-
comes due and payable; to provide that none of the pro-
visions of Section 55 of the Charter of Cumberland, codi-
fied as such in Article 1A of the Code of Public Local
Laws of the State of Maryland, as the same was repealed
and re-enacted with amendments by Chapter 42 of the
Acts of 1933 of the General Assembly of Maryland, shall
be applicable to such issue of bonds; and to repeal any
and all Acts or parts of Acts inconsistent herewith.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and City Council of Cumber-
land, a municipal corporation of the State of Maryland,
be, and is hereby, authorized and empowered to issue bonds
to the aggregate amount of Five Hundred Thousand Dol-
lars ($500, 000. 00), and to sell the same, in whole or in
parts, and to apply the proceeds thereof as hereinafter
provided; said bonds: (a) shall be of the denomination of
One Thousand Dollars ($1, 000. 00) each; (b) shall be ex-
empt from state, county and municipal taxes; (c) shall
bear interest at such rate as the Mayor and City Council
of Cumberland by ordinance may determine, not in excess
of four percentum (4%) per annum, payable semi-annually,
for which interest proper coupons are to be attached to
said bonds; (d) shall be payable as to principal in the
amount of Ten Thousand Dollars ($10, 000. 00) in each year
of the first five-year period after the year of their issue,
according to the serial numbers of said bonds; shall be pay-
able as to principal in the amount of Twenty Thousand Dol-
lars ($20, 000. 00) in each year of the second five-year pe-
riod after the year of their issue, according to the serial
numbers of said bonds; and thereafter shall be payable as
to principal in the amount of Twenty-Five Thousand Dol-
lars ($25, 000. 00) each year, according to the serial num-
bers of said bonds until all of said bonds shall be paid; (c)
shall be signed by the Mayor of Cumberland and duly at-
tested by the City Clerk, with the corporate seal of said
City thereunto attached. "

SEC. 2. And be it further enacted, That for the pur-
pose of paying the interest upon said bonds as they mature
as aforesaid, said Mayor and City Council of Cumberland
shall assess and collect against the assessable property in
the City of Cumberland in each year any of said bonds that