16 LAWS OF MARYLAND. [CH. 8

for the payment of the interest on said bonds and to
redeem and pay off said bonds as they mature.

WHEREAS, The Mayor and Aldermen of Frederick under
authority vested in it by Section 23 of the Acts of the
General Assembly of Maryland of 1910, and an Ordinance
enacted and ordained by The Mayor and Aldermen of
Frederick on the 28th. day of April, 1910, has issued and
sold floating debt bonds in the sum of Sixty Four Thousand
Dollars, and

WHEREAS, The bonds issued and sold in pursuance with
said Act of Assembly and said Ordinance were issued at
the interest rate of four and one-half per centum, per
annum, to become due and payable forty years from date
of issuance, but redeemable after the expiration of twenty
years from date and said twenty year period having expired
said bonds can be redeemed and paid off, and

WHEREAS, The Mayor and Aldermen of Frederick now
has in the sinking fund provided for the redemption of
said bonds at maturity the sum of Twenty Nine Thousand
Two Hundred and Sixty Four Dollars and Fifty Eight
Cents, ($29,264.58), which together with the amount to be
received from the sale of the bonds authorized to be issued
under this Act will be sufficient to retire and pay off the
total issue of said floating debt bonds amounting to the
sum of Sixty Four Thousand Dollars, and

WHEREAS, It will be to the benefit and advantage of said
Municipal Corporation to redeem said bonds at a lower
rate of interest, Therefore

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and Aldermen of Frederick, a
municipal corporation of the State of Maryland, be and it
is hereby authorized to issue and sell serial coupon bonds of
said municipal corporation, in an amount not exceeding
Thirty Five Thousand Dollars, ($35,000.00), par value, and
to expend the proceeds therefrom for the purpose of re-
deeming the bonds heretofore issued by The Mayor and
Aldermen of Frederick pursuant to Chapter 23 of the Acts
of the General Assembly of Maryland of 1910 and an Ordi-
nance enacted and ordained by The Mayor and Aldermen
of Frederick on the 28th. day of April, 1910, providing for
the issuance of said bonds, under the provisions of which