ALBERT C. RITCHIE, GOVERNOR.                  251

SEC. 4. And be it further enacted, That The Mayor and
Aldermen of Frederick is hereby authorized and empowered
to pass all ordinances and 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 date, to be payable at such times and to bear such rate
of interest as The Mayor and Aldermen of Frederick shall by
ordinance, or ordinances, provide. Said bonds when issued
shall be signed by the Mayor and the seal of the Corporation
shall be attached thereto, attested by its City Register.

SEC. 5. And be it further enacted, That The Mayor and
Aldermen of Frederick may provide by ordinance or ordi-
nances, for the registration of any bonds authorized to be
issued under this Act, as to the principal thereof, in the event
the owners desire to have said bonds registered. Any bonds
issued under this Act, which are redeemed and paid off shall
be cancelled.

SEC. 6. And be it further enacted, That The Mayor and
Aldermen of Frederick is hereby authorized and directed to
apply the available net receipts derived from the water system
of said municipal corporation and to levy all necessary taxes
upon the taxable property within the corporate limits of said
corporation, for the payment of the interest on said bonds and
for the payment of the principal thereof, as the same shall fall
due and become payable. The bonds authorized to be issued
under this Act shall be serial bonds and a, portion of the prin-
cipal thereof shall fall due and become payable at stated
periods, at which times they shall be paid off and redeemed,
in the manner provided by ordinance, or ordinances, of The
Mayor and Aldermen of Frederick; provided that the bonds-
authorized to be issued under this Act shall not extend over a
period of more than thirty years, from the date of the issuance
thereof. The sinking funds of any bonds of said municipal
corporation may be invested in the bonds hereby authorized
to be issued. Said bonds when issued shall be known as
Linganore Creek Water Bonds of the Corporation of Fred-
erick., The full faith and credit of The Mayor and Aldermen,
of Frederick is hereby authorized to be pledged for the pay-
ment of the interest on said bonds and for the payment of the
principal thereof, as the same shall fall due and become pay-
able.