374 LAWS OF MARYLAND. [CH. 163

CHAPTER 163.

AN ACT to authorize and empower the Mayor and Council
of Salisbury to borrow upon the faith and credit of Salis-
bury a sum of money not exceeding thirty thousand
($30, 000. 00) dollars and to issue bonds for the payment
of the same, and to use the proceeds thereof for the pur-
pose of paying the expense of acquisition, purchase, re-
construction and extension of the sewer system of the
Camden Sewer Company.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of providing funds for the
purpose of paying the expense of acquisition, purchase, re-
construction and extension of the sewer system of the Cam-
den Sewer Company, a body corporate, in the City of Salis-
bury, the Mayor and Council of Salisbury be, and it is here-
by authorized and empowered to borrow from time to time
a sum or sums of money not exceeding in the aggregate
thirty thousand ($30, 000. 00) dollars upon the faith and
credit of the City of Salisbury, and to issue and sell serial
bonds therefor, which said bonds shall be known as "Cam-
den Sewer Acquisition Bonds of 1935. "

SEC. 2. And be it further enacted, That the said bonds
to be issued from time to time under this Act shall be either
registered or coupon bonds, issued in such denominations
as shall be determined by the Mayor and Council of Salis-
bury by ordinance, shall bear interest at a rate not exceed-
ing f our and one-half (4y2%) per centum per annum, pay-
able semi-annually, shall all be serial type bonds, and shall
all mature in not exceeding thirty (30) years from the date
of issue, and shall be forever exempt from State, County
and Municipal taxation. Said bonds shall be signed by the
Mayor of Salisbury, with the seal of the City attached
thereto, attested by the Clerk of Salisbury, and if coupon
bonds, the coupons thereon shall be signed by the Clerk of
Salisbury, or a facsimile of his signature shall be stamped,
printed or engraved thereon. Said bonds, when signed and
attested as heretofore directed, shall be delivered to the
Clerk of Salisbury, and the bond of said Clerk of Salisbury
shall be responsible for the safekeeping of said bonds and
the proceeds thereof. The Clerk of Salisbury shall sell said
bonds at public auction or by sealed bids, after giving at
least two weeks' public notice thereof in one or more news-
papers published in the City of Salisbury, and in one or
more newspapers published in the City of Baltimore, under