HERBERT R. O'CONOR, GOVERNOR. 179

from the sale of said bonds shall be applied to the redemp-
tion of the twenty-five thousand dollars ($25, 000) of bonds
issued by the Mayor and Council of Crisfield pursuant to
Ordinance No. 64, approved May 14th, 1919, and the
twenty thousand dollars ($20, 000) of refunding bonds
issued pursuant to Chapter 11 of the Acts of 1918, the
said bonds falling due respectively on June 1st, 1939, and
September 1st, 1939.

The said bonds shall be issued in such denominations as
said Mayor and Council shall determine and shall become
due and payable twenty (20) years from the date of issue
thereof and said bonds shall bear interest not exceeding
five per centum (5%) per annum, payable semi-annually,
from the date of issue, which interest may be evidenced
by coupons to be attached thereto; the said bonds shall be
signed by the Mayor of Crisfield, sealed with the corporate
seal of the corporation, and attested by the clerk thereof,
and the coupons of said bonds shall be signed by the said
clerk or a facsimile of his signature shall be stamped,
printed or engraved thereon, and said bonds shall have
printed on them a distinct reference to the act authorizing
their issue, and shall be exempt from State, County and
Municipal taxation.

SEC. 2. And be it further enacted, That the Mayor and
Council of Crisfield is authorized to sell said bonds to the
highest bidder upon sealed proposals after having given
at least two (2) weeks' prior notice by advertisement in
some newspaper or newspapers published in Somerset
County and by such other advertisement as the said Mayor
and Council may deem advisable, but the right is reserved
unto the Mayor and Council of Crisfield to reject any and
all bids. If no bids are received after such advertisement
or if all bids received are rejected by the said Mayor and
Council, then the said Mayor and Council of Crisfield is
hereby authorized to sell said bonds at private sale at not
less than par and accrued interest. Any premium received
from the sale of said bonds shall be used for the payment
of interest on said bonds as it becomes due.

SEC. 3. And be it further enacted, That, for the pur-
pose of securing the prompt payment of interest on said
bonds, the Mayor and Council of Crisfield is hereby author-
ized and directed to levy annually a sufficient tax upon
the assessable property of the town of Crisfield as will be
necessary and sufficient to pay the interest on said bonds
as it becomes due.