280 LAWS OF MARYLAND. [CH. 276

mine, and to sell the same in whole or in part 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 exempt from City, County and State taxes and
shall bear interest 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 attested by the City Clerk, with the corporate seal of the
City thereunto attached.

SEC. 2. And be it further enacted, That for the purpose of
paying the interest upon said bonds and retiring said bonds at
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 upon said bonds and such
further sums as may be required for the purpose of paying off
such part of said bonds as shall mature and be payable in each
year, and shall use said money in payment of said interest and
the principal of said bonds until the whole thereof has been
paid.

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-
gether with such certified checks as may be required shall be
filed with the City Clerk and at the time and place advertised,
shall be opened by him in the presence of the said Mayor and
City Council, and if said bids be satisfactory to the said Mayor
and City Council, it shall sell said bonds, or any part thereof
to the highest bidder or bidders therefor, of whose ability to
comply with the terms of sale, the said Mayor and City Coun-
cil, in its discretion, is satisfied. In the event that the bonds
be sold, the proceeds thereof shall be placed in a separate fund
and shall be used for the purpose of acquiring land and the
construction of a modern Airport, together with. the payment
of all expenses incident to the acquisition or construction
thereof.

SEC. 4. And be it further enacted, That the Mayor and City
Council of Cumberland is hereby authorized and empowered
to accept from any Federal or State agency grants for or in
aid of the construction of a public Airport, and to make such
contracts containing such terms, provisions and conditions as
in the discretion of the Mayor and City Council may seem nee-