HERBERT R. O'CONOR, GOVERNOR. 367
CHAPTER 216.
(House Bill 435)

AN ACT to authorize and empower the Commissioners of
Cambridge, Maryland, a municipal corporation in Dor-
chester County, in its discretion, to borrow money upon
the credit of the said municipal corporation, and issue
negotiable interest bearing coupon bonds in a principal
amount not exceeding Thirty-five Thousand Dollars ($35, -
000. 00); and to levy and collect annual taxes upon all the
assessable property of said municipal corporation, to pay
the principal and interest upon said bonds when due; and
to use the proceeds of the sale of said bonds to pay for cer-
tain permanent municipal improvements now, or hereafter,
to be made, and to purchase necessary apparatus and equip-
ment of any kind for fighting or extinguishing fire.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Commissioners of Cambridge, Maryland, a
municipal corporation, in Dorchester County, be, and it is
hereby, authorized and empowered, in its discretion, to borrow,
on the credit of the said municipal corporation, a sum not
exceeding Thirty-five Thousand Dollars ($35, 000. 00), and to
issue its negotiable, interest bearing coupon bonds therefor,
said bonds to be issued in denominations of One Thousand
Dollars ($1, 000. 00) each, to bear interest at such rate, not
exceeding four per cent. (4%), as is determined by the Com-
missioners of Cambridge, Maryland, the interest payable semi-
annually on the 1st day of January and the 1st day of July
in each and every year after the date of issue, the bonds to
be dated as of such date as the Commissioners of Cambridge,
Maryland, determine, said bonds to be signed by the Mayor
of Cambridge and sealed with the seal of the said municipal
corporation, duly attested by the Town Clerk or Clerk to the
Commissioners of Cambridge, Maryland, and the coupons at-
tached to the bonds to bear the fac-simile signature of the
Treasurer of Cambridge. Two of said bonds, in the amount
of One Thousand Dollars ($1, 000. 00) each, if issued, shall
became due and payable on the 1st day of July, 1940, and two
of said bonds, each in the amount of One Thousand Dollars
($1, 000. 00), shall become due and payable on the 1st day of
July of each year thereafter until the entire amount of bonds
issued shall have been redeemed.

SEC. 2. And be it further enacted, That the bonds shall be
designated as "1939 Public Improvement Bonds", and shall
bear a reference to this Act authorizing their issue. The said
bonds and all interest thereon shall be exempt from all