HERBERT R. O'CONOR, GOVERNOR. 371

the City of Salisbury and collect taxes thereon in an amount
sufficient to pay the principal and interest on said bonds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That for the purpose of providing funds for the purpose
of paying the expense of acquisition and purchase of rights-
of-way and necessary land for the construction of the Sails*
bury By-Pass Road Northerly from East Main Street, in the
City of Salisbury, Maryland; for the purpose of installing in
or upon said right-of-way and the approaches thereto water
mains, sanitary sewers, storm water drains, curbs, gutters
and other public utilities; for the purpose of improving the
approaches from the existing streets to the said right-of-way
and for other expenses incidental thereto, in the City of Salis-
bury, The Mayor and Council of Salisbury be, and it is here-
by authorized and empowered to borrow from time to time
a sum or sums of money not exceeding in the aggregate Fifty-
Five Thousand Dollars ($55, 000. 00) upon the faith and credit
of the City of Salisbury, and to issue and sell serial bonds
therefor, which said bonds shall be known as "Salisbury,
Maryland By-Pass Road and Public Utilities Bonds of 1939-
40"; provided, however, that none of said bonds shall be
issued until The Mayor and Council of Salisbury has been
informed in writing by the State Roads Commission of the
State of Maryland that it has set aside funds for the actual
construction of said By-Pass Road Northerly from East Main
Street, in the City of Salisbury, Maryland.

SEC. 2. And be it further enacted, That the said bonds to
be issued from time to time under this Act shall be either reg-
istered or coupon bonds, Issued in such denominations as shall
be determined by The Mayor and Council of Salisbury by or-
dinance, shall bear interest at a rate not exceeding four per
centum (4%) per annum, payable semi-annually, shall all be
serial type bonds, and shall all mature in not exceeding
thirty (30) years from the date of issue, and shall be forever
exempt from State, County and Municipal taxation. Said
bonds shall be signed by the Mayor of Salisbury or the Presi-
dent of the Council of Salisbury, with the seal of the City
attached thereto, attested by the Clerk of Salisbury, and if
coupon bonds, the coupons thereon shall be signed by the
Clerk of Salisbury, or a fac-simile of his signature shall be
stamped, printed or engraved thereon. Said bonds, when
signed and attested as heretofore directed, shall be delivered
to the Clerk of Salisbury, and the bond of said Clerk of Salis-
bury shall be responsible for the safekeeping of said bonds
and the proceeds thereof. The Clerk of Salisbury shall sell
said bonds at public auction or by sealed bids, after giving at
least two weeks' public notice thereof in one or more news-