134                         LAWS OF MARYLAND.                   [CH. 81

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Burgess and Commissioners of Clearspring
be and they are hereby authorized and empowered to construct^
operate and maintain a system of "Water Works and Sewers for
the use and benefit of the inhabitants of Clearspring and the
immediate vicinity thereof, for the purpose of supplying to
such inhabitants a suitable and adequate supply of water for
manufacturing, industrial, and domestic purposes, and protec-
tion against fire, and the use of sewers as may be reasonably
necessary for said town and the immediate vicinity.

SEC. 2. And be it further enacted, That to raise the neces-
sary money to pay for the acquisition, purchase and construc-
tion of said system of Water Works and Sewers, the said Bur-
gess and Commissioners of Clearspring be and they are hereby
authorized and empowered to borrow upon the faith and credit
of the said town a sum of money not exceeding twenty-five thou-
sand dollars ($25, 000. 00), and to issue and sell bonds, which
bonds shall be designated "Clearspring, Maryland Water and
Sewer Bonds, " and the money arising from the sale of such
bonds shall be used exclusively for the purpose contemplated by
this Act.

SEC. 3. And be it further enacted, That the Bonds author-
ized by the preceding section shall be issued in such denomina-
tions as the said Burgess and Commissioners may by ordinance
select, and shall bear interest at the rate of five (5 %) per cen-
tum per annum, payable semi-annually from the date of their
issue, and shall be payable as to principal at the end of thirty
years, and redeemable in whole or in part as follows: One thou-
sand ($1, 000. 00) dollars of principal payable each year, after
5 years, from the date of issue, and redeemable in any amount
after 15 years, at the option of said Burgess and Commission-
ers, such Bonds to be signed by the Burgess and attested by the
clerk, with the corporate seal of the town attached and regis-
tered by the Treasurer of said town in a book kept by him for
this purpose. The said bonds shall be sold by the Treasurer at
such times and in such manner and amounts as the Burgess and
Commissioners may direct, but shall not be sold for less than
their face value. They shall be numbered consecutively, and
redeemed in the same order, and when any of said bonds have
been selected for redemption, the holder of such bond or bonds
shall be notified thereof, or, if unknown, notice of such redemp-
tion shall be given by advertising in at least two newspapers