HERBERT R. O'CONOR, GOVERNOR. 1435

by the said Mayor and City Council, shall bear interest at a
rate to be determined by said Mayor and City Council, not
in excess of four per cent. (4%) per annum, payable semi-
annually, shall be dated on the date of their issue and shall
mature not exceeding thirty years from the date of their issue,
or may be retired serially as said Mayor and City Council
may determine. Said bonds shall be exempt from all state,
county and municipal taxation. They shall be signed by the
Mayor and countersigned by the Treasurer, and attested by
the clerk to the City Council with the corporate seal of the
town of Laurel attached.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Laurel be and it is hereby authorized and
directed to levy each year so long as said bonds are outstand-
ing and not paid a tax sufficient to redeem the same at their
maturity and to pay the interest thereon, the proceeds of
said tax to be kept in a special fund and in no case to be
used for any other purpose. In case such bonds shall be issued
in any year after the making of the regular levy for that year,
then the Mayor and City Council of Laurel is authorized and
directed to pay any and all interest coming due before the next
levy out of any other funds in its disposal and to levy at the
next succeeding levy, to reimburse such other funds.

SEC. 4. And be it further enacted, That the Mayor and
City Council of Laurel be and it is hereby authorized and
empowered to do all acts and things necessary to issue and
sell said bonds, to have the same registered if necessary, and
to do all things necessary to carry out the purposes of this
Act, even though the same may not be specifically mentioned
herein or in the charter of the town of Laurel or in any other
Act relating to the said town.

SEC. 5. And be it -further enacted, That this Act shall become
effective on June 1, 1941.

Approved May 2, 1941.

CHAPTER 815.
(House Bill 828)

AN ACT to repeal and re-enact with amendments Section 713
of Article 16 of the Code of Public Local Laws of Mont-
gomery County (1939 Edition, Flack)' being Article 16 of
the Code of Public Local Laws of Maryland, title "Mont-