24                           LAWS OF MARYLAND.                   [CH. 15

SEC. 5. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the immedi-
ate preservation of the public health, and being passed upon
a yea and nay vote supported by three-fifths of all members
elected to each of the two Bouses of the General Assembly the
same shall take effect from the date of its passage.

Approved March 13, 1931.

CHAPTER 15.

AN ACT to authorize and empower the Mayor and Council
of Salisbury to borrow upon the faith and credit of Salisbury
a sum of money not exceeding seventy-five thousand dollars
($75, 000. 00), and to use the proceeds thereof for the pur-
pose of extending, repairing and improving the water supply
and the water and sewer system of Salisbury.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of providing funds for the
improvement, repairing and extension of the water and sewer-
age system of Salisbury, the Mayor and Council of Salisbury
be, and it is hereby authorized and empowered to borrow from
time to time a sum or sums of money not exceeding in the aggre-
gate seventy-five thousand dollars ($75, 000. 00), 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 "Salisbury
Water and Sewer Extension Bonds of 1931. "

SEC. 2. And be it further enacted, That the said bonds to
be issued from time to time under this Act shall be either regis-
tered or coupon bonds, issued in such denominations as shall be
determined by the Mayor and Council of Salisbury by ordi-
nance, shall bear interest at a rate not exceeding five per
centum (5%), per annum, payable semi-annually, shall all be
serial type bonds, and shall all mature in not exceeding forty
(40) 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 fac-simile of his signature shall be stamped,