102 LAWS OF MARYLAND. [CH. 81
CHAPTER 81.
(House Bill 169)

AN ACT to authorize The Mayor and Common Council of
Westminster, a municipal corporation of the State of Mary-
land, to borrow on the faith and credit of the City of West-
minster twenty-six thousand dollars ($26, 000. 00) and to
issue coupon bonds therefor and to sell the game, the pro-
ceeds arising from the sale thereof to be applied to the
payment and liquidation of certain outstanding notes,
obligations and floating indebtedness due and owing by The
Mayor and Common Council of Westminster, and to provide
for the levying of a tax annually upon the assessable prop-
erty of the City of Westminster to pay interest thereon,
and for the redemption and payment of said bonds as the
same shall fall due.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That The Mayor and Common Council of Westminster
be and it is hereby authorized and directed to borrow on the
faith and credit of the City of Westminster the sum of twenty-
six thousand dollars ($26, 000. 00) and to issue coupon bonds
therefor in sums of one thousand dollars ($1, 000. 00) each, to
be signed by the Mayor of The Mayor and Common Council
of Westminster and countersigned by the Treasurer thereof,
with the seal of The Mayor and Common Council of West-
minster affixed thereto, and said bonds shall be designated as
"Refunding Bonds of the City of Westminster" and shall be
numbered consecutively from one (1) to twenty-six (26), in-
clusive, and shall bear interest at the rate of three (3) per
cent, per annum, payable semi-annually, on the first day of
November and May of each and every year, accounting from
May 1, 1941, and said bonds shall be exempt from all taxation
for State, County and Municipal purposes in the State of
Maryland, and shall have printed on them a direct reference
to this Act authorizing their issue.

SEC. 2. And be it further enacted, That the said bonds to
be issued under this Act shall mature in their numerical order
two thousand dollars ($2, 000. 00) annually in each and every
year beginning May 1, 1945, and that said bonds with interest
thereon shall be paid and cancelled by The Mayor and Com-
mon Council of Westminster in the amount of two thousand
dollars ($2, 000. 00) during each and every year beginning as
aforesaid until the whole of said bonds shall have been paid,
and the date of issue shall be the same on all bonds under this
Act, which date shall be May 1, 1941.