ALBERT C. RITCHIE, GOVERNOR.                  939

SEC. 3. And be it further enacted, That nothing in this
Act shall affect the levy, collection or disposition of any taxes
heretofore levied.

SEC. 4. And be it further enacted, That this Act shall take
effect June 1, 1931.

Approved April 17, 1931.

CHAPTER 372.

AN ACT to authorize the Town Commissioners of La Plata,
Maryland, to issue bonds for the purpose of refunding a
part of the present bonded indebtedness of the said town of
La Plata.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Town Commissioners of La Plata, Mary-
land, be and they are hereby authorized, empowered and di-
rected to issue bonds in sums not less than one hundred nor
more than five hundred dollars each, to be signed by the presi-
dent of the said Town Commissioners and countersigned by
the treasurer thereof, not to exceed in the aggregate the sum
of one thousand three hundred dollars, and bearing a rate of
interest not exceeding five per cent, per annum, payable semi-
annually on the first days of January and July in each and
every year, according to the tenor of the coupons to be attached
thereto; the said bonds to be exempt from all taxation and the
coupons thereon, when due, to be receivable by the treasurer
of said La Plata in payment of town taxes.

SEC. 2. And be it further enacted, That said bonds shall
be issued payable fifteen years from the date thereof and be
redeemable at any time after the expiration of five years from
date thereof, at the pleasure of said Town Commissioners.

SEC. 3. And be it further enacted, That the said Town
Commissioners of La Plata, Maryland, are hereby authorized,
empowered and directed to exchange said bonds in like denom-
inations and amounts, with the holders of bonds now issued
upon the credit of the said town of La Plata, to the end that
all such bonds now outstanding may be redeemed and cancelled