1120 LAWS OF MARYLAND. [CH. 650
CHAPTER 650.
(House Bill 473)

AN ACT to authorize the Mayor and City Council of Cum-
berland, Maryland, to issue coupon bonds in the amount
of Two Hundred Thousand ($200, 000. 00) Dollars, and to
provide for the payment of the interest thereon and the pay-
ment of the principal thereof at maturity, to be known as
"Cumberland Street and Sewer Bonds", and to provide for
the use of the proceeds of said bonds for grading, regrad-
ing, paving, repaving, sewering and sidewalking of streets
and public highways, and to repeal all Acts or parts of Acts
inconsistent with the provisions of this Act,

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and City Council of Cumberland be and
is hereby authorized and empowered to issue bonds in the
amount of Two Hundred Thousand ($200, 000. 00) Dollars,
payable serially in such amounts annually as the said Mayor
and City Council shall by ordinance determine, and to sell the
same in whole or in parts and to apply the proceeds thereof
as hereinafter provided; said bonds to be of the denomination
of One Thousand ($1, 000. 00) Dollars each, and shall be ex-
empt from City, County and State taxes and shall bear in-
terest at the rate of not more than four (4%) per cent per
annum payable semi-annually, and for which proper interest
coupons are to be attached to said bonds; said bonds shall be
signed by the Mayor of the City of Cumberland and duly at-
tested by the City Clerk, with the corporate seal of the City
of Cumberland thereunto attached.

SEC. 2. And be it further enacted. That for the purpose of
paying the interest on said bonds, and retiring said bonds $t
maturity, said Mayor and City Council of Cumberland shall
assess against the assessable property in the City of Cumber-
land in each year during the continuance of said bonds a sum
of money sufficient to pay the interest on said bonds and such
further sums as may be required for the purpose of paying off
the principal of said bonds as shall mature and be payable in
each year, and shall pay said interest and the principal of
such bonds as the same are due and payable.

SEC. 3. And be it further enacted, That the Mayor and City
Council of Cumberland shall cause proper advertisement to
be made stating the time and place where bids, conditioned as
the said Mayor and City Council may require, will be opened
for the sale of said bonds as a whole or in parts, reserving
unto itself the right to reject any and all bids. Said bids to-