44 LAWS OF MARYLAND. [CH. 27

of all the members elected to each of the two Houses of the
General Assembly, the same shall take effect from the date
of its passage.

Approved March 23, 1939.

CHAPTER 27.
(House Bill 36)

AN ACT to authorize and empower the Mayor and Council-
men of Frostburg to issue bonds to be known as "Frost-
burg Water Improvement Bonds of 1939, " to an amount
not exceeding Thirty Five Thousand ($35, 000. 00) Dollars,
and to sell the same and to use the proceeds thereof for
the purpose of installing water meters and generally
maintaining the water system and supply of said City, and
for all other necessary purposes affecting the water system
of the City of Frostburg and to authorize the Mayor and
Councilmen of Frostburg to fix the maturities, rates of in-
terest and terms of sale of said bonds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Councilmen of Frostburg be and it
is hereby authorized and empowered to borrow money upon
the credit of said municipal corporation, and to issue and sell
bonds therefor to an amount not to exceed Thirty-Five Thou-
sand ($35, 000. 00) Dollars, in denominations of not less than
One Hundred ($100. 00) Dollars or more than One Thousand
(f 1, 000. 00) Dollars. Said bonds shall be forever exempt from
State, County and municipal taxes, and shall be signed by
the Mayor of said Corporation and attested by its City Clerk
with its corporate seal thereto attached, and shall bear in-
terest at such rate as the Mayor and Councilmen deem to be
for the best interests of said City, payable semi-annually, for
which interest coupons are to be attached thereto. Said
bonds when issued shall have written or printed on them a
distinct reference to the Act authorizing the issuance of the
same, and shall be designated "Frostburg Water Improve-
ment Bonds of 1939. "

SEC. 2. The Mayor and Councilmen of Frostburg shall
have the sole right and power to fix the maturities and terms
of sale of said bonds together with the manner and terms of
their payment.

SEC. 3. And be it further enacted, That upon the sale of
said bonds the proceeds thereof shall be placed in a separate
fund and shall be used by the Mayor and Councilmen for