HERBERT R. O'CONOR, GOVERNOR. 655

to provide by ordinance or ordinances for the issue and
sale of said bonds for the purposes set forth in this Act and
that all of said bonds when issued shall be exempt from
Maryland State, County and municipal taxation. Said ordi-
nance or ordinances may prescribe the form and tenor of
said bonds, the rate of interest not exceeding five per
centum per annum to be paid therefor, the time and place
at which said interest is to be paid, and the method of sell-
ing said bonds either by public sale or private negotiations,
at, above or below the par value thereof. Said bonds shall
be in coupon form, registerable as to principal only, shall
be in denominations of $1, 000. 00 each, shall be numbered
consecutively from No. One (1) to No. One Hundred and
Sixty-one (161), both numbers inclusive, and shall mature
serially as the Mayor and Council may provide by ordi-
nance.

SEC. 3. And be it further enacted, That the proceeds
derived from the sale of any such bonds shall be used exclu-
sively for the purposes for which such bonds shall be
authorized and for paying the cost of engraving or print-
ing the bonds and all other incidental costs and expenses
connected with the issuance of said bonds.

SEC. 4. And be it further enacted, That for the purpose
of paying the interest on said bonds and for redeeming
said bonds when they mature, the said Mayor and Council
of Brunswick, shall annually until all of said bonds issued
under the authority of this Act shall mature and be re-
deemed, levy a tax upon the assessable property of said
Town of Brunswick sufficient to pay the annual interest on
said bonds outstanding and to redeem said bonds when
they mature and become due, said taxes to be collected as
other taxes levied in said town are collected.

SEC. 4A. And be it further enacted, That Chapter 392
of the Acts of 1937 (General Session) be and the same is
hereby repealed.

SEC. 5. And be it further enacted, That this Act is
hereby declared to be an emergency law, necessary for
the immediate preservation of the public health and safety,
and being passed upon by a yea and nay vote, supported
by three-fifths of all of the members elected to each of the
two House of the General Assembly the same shall take
effect from the date of its passage.

Approved April 26, 1939.