480 LAWS OF MARYLAND. [CH. 429

which said election there shall be submitted to the said quali-
fied voters the question—"Whether or not The Mayor and
Common Council of Westminster shall acquire from The Mary-
land Water Works Company the water system, located in the
Seventh Election District of Carroll County", and the said
Commissioners shall give public notice of the call of the said
election at the time of the publication of the information as
hereinabove provided for. The ballots to be used in said elec-
tion shall be prepared in the same manner as ballots are now
prepared for elections in the said City.

SEC. 4. If on a canvass of the ballots cast at the said elec-
tion it shall be found that a majority of the votes cast by the
qualified voters at the said election are in favor of the acquisi-
tion of the said water system then the said The Mayor and
Common Council of Westminster shall thereupon proceed to
acquire the said water system under and according to the
provisions of this Act, and for the purpose of providing the
said The Mayor and Common Council of Westminster with the
funds necessary for such acquisition, and also with funds for
the extension and improvement thereof, and with working
capital for the operation of the said water system, the said
The Mayor and Common Council of Westminster be and it is
hereby authorized and empowered to issue bonds to an amount
not in excess of Three Hundred Thousand Dollars
(|300, 000. 00), and to sell the same in whole or in part, and to
apply the proceeds thereof for any or all of the purposes of
this Act, the said bonds to be exempt from all City, County
and State taxes, such bonds to be in such denomination or
denominations, to be payable at such time or times, and to
bear such rate of interest not to exceed three per centum
(3%) per annum, as the said The Mayor and Common Council
of Westminster shall by resolution prescribe, said bonds to
have attached thereto interest coupons bearing the facsimile
signature of the Treasurer of The Mayor and Common Council
of Westminster and to be payable semi-annually. Said bonds
shall be signed by the Mayor of The Mayor and Common Coun-
cil of Westminster and by its Treasurer, and shall be sealed
with the seal of The Mayor and Common Council of West-
minster. The said bonds may be sold by the said The Mayor
and Common Council of Westminster in its discretion but if
such sale be at a price less than the principal amount thereof
then the aggregate amount of the interest thereon, together
with the amount of the sales discount from the principal there-
of, shall in no event exceed three percentum (3%) per annum
on the principal amount of said bonds.

SEC. 5. If and when The Mayor and Common Council of
Westminster shall have acquired the said water system then