510 LAWS OF MARYLAND. [CH. 252

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Burgess and Commissioners of Wal-
kersville, a municipal corporation of the State of Maryland,
be and it is hereby authorized and empowered to purchase
all of the capital stock, property, real and personal, rights,
franchises, Charter powers and other assets of The Wal-
kersville Water Company, a body corporate of the State of
Maryland, for a sum of money not exceeding Twenty-Five
Thousand Dollars, ($25, 000. 00), to issue and sell serial cou-
pon bonds of said municipal corporation in a sum of money
not exceeding Twenty-Five Thousand Dollars, ($25, 000. 00),
par value, the proceeds therefrom to be used for the pur-
pose of making such purchase, and to provide for the pay-
ment of the interest and principal on said bonds as the
same shall fall due and become payable, and after having
acquired said Water System, to make such improvements,
extensions and repairs thereto as it may think proper, pro-
vided that the purchase of said Water Company and the is-
suance of said bonds shall receive the assent of a majority
of the qualified voters of Walkersville voting thereon, at a
general or special election before such purchase is made and
said bonds issued.

SEC. 2. And be it further enacted, That the Burgess and
Commissioners of Walkersville is hereby authorized and
empowered to sell said bonds by bid upon sealed proposals
to the highest responsible bidder or bidders, after having
given at least two weeks public notice by advertisement in-
serted in at least one newspaper, published in Frederick
County, of the time, place, manner and terms of sale, and
such other notice as it shall think proper. Said bonds shall
not be sold except for cash, and when issued shall be ex-
empt from State, County and municipal taxation.

SEC. 3. And be it further enacted, That the Burgess and
Commissioners of Walkersville is hereby authorized and
empowered to pass all ordinances that it may deem proper
for the purpose of carrying out the provisions of this Act,
and to do all things necessary for the issuance of said bonds
and their offering for sale under the most advantageous
conditions, which it may think proper, said bonds to be
issued in such manner, for such amounts, to bear such dates
and to be payable at such times as the Burgess and Com-
missioners shall provide by ordinance, or ordinances, which
said ordinance or ordinances, may fix the rate of interest
to be paid on said bonds, or designate how the rate of in-
terest may be determined when said bonds are offered for