46 LAWS OF MARYLAND. [CH. 28

known as Sections 155A to 155D, inclusive, authorizing and
empowering the Town Commissioners of Bel Air to borrow
on the faith and credit of the Town of Bel Air a sum of
money not to exceed Fifty Thousand Dollars ($50,000.00),
at a rate of interest not to exceed 4%, for the purpose of
paying off and retiring an accumulated debt of Twenty
Thousand Dollars ($20,000.00), for the settlement of certain
judgments and claims against said Town, and for the im-
provement and extension of the water and sewerage systems
of said Town, and providing for the levying of taxes by said
Commissioners to repay the loan and interest thereon, and
providing that said loan and every part thereof and the
interest payable thereon, shall be and remain exempt from
State, County and Municipal taxes,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That four new sections be added to Article 13 of the Code
of Public Local Laws of Maryland, title "Harford County",
sub-title "Bel Air", to follow Section 155 of said Article and
to be known as Sections 155A, 155B, 155C and 155D, and to
read as follows:

155A. The Town Commissioners of Bel Air be and they
are hereby authorized and empowered to borrow from time to
time upon the faith and credit of the Town of Bel Air a sum
or sums of money not to exceed in the aggregate the sum of
Fifty Thousand Dollars ($50,000.00) and at a rate of interest
not to exceed four percent (4%) per annum, for the purpose
of paying off and retiring an accumulated debt of Twenty
Thousand Dollars ($20,000.00), for the settlement of certain
judgments and claims against said Town, and for the improve-
ment and extension of the water and sewerage systems of said
Town.

155B. The said Town Commissioners are hereby authorized
to borrow, under the provisions of this Act, from such bank,
banker or trust company, or from any other source, as they
shall from time to time select. The said Town Commissioners
are authorized to execute and deliver the negotiable promis-
sory note or notes of the Town Commissioners of Bel Air, to
be signed by the President of the said Commissioners and the
Treasurer of Bel Air, with the seal of the said Town affixed
thereto, in such denomination or denominations, payable at
such place, and at such date or dates, as the said Town Com-
missioners shall by resolution provide. The said notes shall
bear interest at such rate or rates, not exceeding 4% per
annum, as shall be provided by resolution of the Town Com-
missioners, such interest to be evidenced by semi-annual