WM, PRESTON LANE, JR., GOVERNOR 455

CHAPTER 105
(House Bill 156)

AN ACT empowering the Mayor and Aldermen of the City of
Annapolis to borrow money at any time, or from time to
time, in an aggregate amount not to exceed Three Hun-
dred Thousand Dollars ($300,000.00), for the opening, ex-
tension, laying down, widening, improving and construction
of roads and streets in the City of Annapolis, and to evidence
such borrowing by full faith and credit serial bonds of the
City of Annapolis; exempting the bonds so issued from any
referendum requirement or from any provisions of the
Charter of the City of Annapolis fixing a limitation upon
the taxing power of the City; empowering the City to fix
and determine by ordinance the form, tenor, interest rate,
not to exceed four per centum (4%) per annum, or method
of arriving at the same, method and manner of selling,
terms, including registration and/or redemption provisions,
conditions, maturities, and other details incident or neces-
sary to the issuance, sale, delivery and payment of said
bonds, exempting the bonds so issued and the interest
thereon from State, County and Municipal taxation in the
State of Maryland, and empowering the City of Annapolis
to levy unlimited ad valorem taxes for the payment of the
principal of and interest on any of said bonds.

WHEREAS, the new highway connecting the Chesapeake Bay
Bridge with the City of Annapolis is to be laid out so as to
by-pass the City of Annapolis, and it becomes necessary that
proper approaches from said bridge to the City of Annapolis
be constructed and that the city provide for the laying out,
extension and improvement of streets, roads and highways
leading to such approaches within the limits of said City;
and

WHEREAS, it is deemed necessary and in the public interest
that the said Municipality be authorized to borrow money
for the foregoing purposes and to issue its bonds therefor;
now, therefore:

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Aldermen of the City of Annapolis
is hereby authorized and empowered to borrow at any time,

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike-out indicates matter stricken out of bill.