782                        LAWS OF MARYLAND.                  [CH. 308

of the Code of Public Local Laws of Maryland (1930 Edition),
title 'l Carroll County, ' 7 sub-title '' Sykesville, ' ' said new section
to be known as Section 362A of said Article 7, to follow imme-
diately after Section 362 of said Article and to read as follows:

362A. The Mayor and Common Council of Sykesville be and
they are hereby authorized and empowered, whenever in their
judgment the needs of the town require, to borrow on the faith
and credit of the said town of Sykesville, sums not to exceed in
the aggregate the sum of fifteen thousand dollars, to be used
for the municipal purposes and to secure the same by the notes
of the said the Mayor and Common Council of Sykesville, exe-
cuted on its behalf by the Mayor and attested by the Clerk of
the said the Mayor and Common Council of Sykesville, at the
lowest rate of interest which they may be able to secure. But
every resolution passed by the Mayor and Common Council of
Sykesville providing for the borrowing of any sums hereby au-
thorized shall set out in particular the purposes for which the
money so borrowed is to be used, and said money so borrowed
shall not be used for any other purpose whatsoever than that
which is set out in the resolution providing for the borrowing
of the same.

SEC. 2. And be it further enacted, That Section 363 of Article
7 of the Code of Public Local Laws of Maryland (1930 Edition),
be and it is hereby repealed and re-enacted with amendments,
to read as follows:

363. The said Mayor and Common Council are hereby di-
rected and authorized, in making their annual levy of taxes
after the issuance of any bonds as provided in Section 362 (309)
or any notes as provided by Section 362A (309A), to levy a sum
sufficient to pay the interest on such bonds or notes and to pro-
vide for the redemption or the payment of the same at maturity,
not exceeding twenty cents on each one hundred dollars of the
assessable property, provided the total levy shall not exceed the
rate of sixty cents on the one hundred dollars on all property
subject to municipal taxation within the corporate limits of the
town of Sykesville, and all moneys so levied for the interest on
such bonds or notes and for the redemption thereof shall be ap-
plied solely for the purposes for which it has been levied, and
no part thereof shall be applied to any other purpose whatsoever
until all of said bonds and all of said notes have been paid in
full.

SEC. 3. And be it further enacted, That this Act shall take
effect June 1, 1931.

Approved April 17, 1931.