1484 LAWS OF MARYLAND. [CH. 847

(b) The Mayor, Counselor and Aldermen of the City of
Annapolis shall, by ordinance or resolution, prescribe the form
and tenor of such bonds, the rate of interest not exceeding 5%,
to be paid thereon; the date of issue; and the time and place
at which it is to be paid. Such bonds shall be in coupon form,
shall be in denominations of $100 or any multiple thereof, and
may be made registerable as to principal. Such bonds shall be
issued upon the serial maturity plan in such manner that
bonds in the amount of $2, 500. 00 shall mature and become pay-
able at the end of the first year after the date of issue and at
the end of each year thereafter until all the bonds shall have
been paid and retired. Such bonds, when issued, shall be
signed by the Mayor of the City of Annapolis and the cor-
porate seal of the City of Annapolis, attested by the City
Clerk, shall be affixed to each of said bonds, and the interest
coupons thereto attached, shall bear the facsimile signature of
the City Treasurer, printed, lithographed or engraved thereon.

SEC. 2. And be it further enacted, That the bonds author-
ized by this Act shall be sold in the manner prescribed by
Section 35 of Article 31 of the Annotated Code of Maryland
(1939 Edition).

SEC. 3. And be it further enacted, That the entire proceeds
from the sale of such bonds, after payment of costs of engrav-
ing and all other incidental costs and expenses connected with
the issuance of the bonds, shall be used by the Mayor, Coun-
selor, and Aldermen of the City of Annapolis exclusively for
any one or all of the following purposes, with priorities and
preferences among said purposes to be determined by the said
Mayor, Counselor and Aldermen:

1. To acquire by purchase or otherwise, any real property
deemed necessary by the said Mayor, Counselor and Aldermen
as a site on which to erect a public Community Center Build-
ing;

2. To erect, equip and maintain such building;

3. To acquire by purchase or otherwise real property
deemed necessary by the said Mayor, Counselor and Aldermen
as a site for any public park or public beach;

4. To erect, equip and maintain on such real property any
building deemed necessary by the said Mayor, Counselor and
Aldermen to promote the public convenience at any such public
park or public beach.

SEC. 4. And be it further enacted. That until all the bonds
issued under this Act have matured and been redeemed, the
Mayor, Counselor and Aldermen of the City of Annapolis shall
annually levy a tax on the assessable property of the City