1598 LAWS OF MARYLAND.. [CH. 937

thousand ($100, 000) dollars for the purpose of extending and
improving the water and sewer systems of the City under the
conditions hereinafter specified and to issue and sell bonds
therefor.

The Mayor, Counselor and Aldermen of the City of Annap-
olis shall, by ordinance, prescribe the form and tenor of such
bonds, the rate of interest not exceeding 3 1/2 per cent, and the
date of issue. The bonds shall be in coupon form and shall be
issued upon the serial maturity plan in such manner that all
of said bonds shall mature and be paid within 25 years after
the date of issue.

The bonds, when issued, shall be signed by the Mayor of the
City of Annapolis and the Corporate seal of the City of Annap-
olis, attested by the City Clerk, shall be applied 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 Sec-
tion 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 the payment of costs of en-
graving, advertising and other incidental costs and expenses
connected with the issuance of the bonds, shall be used by the
Mayor, Counselor and Aldermen of the City of Annapolis for
extending and improving the water and sewer systems in any
territory or area annexed or added to the City of Annapolis
after the passage of this Act.

SEC. 4. And be it further enacted, That until all the bonds
issued under the authority of this Act shall have matured and
been redeemed, the Mayor, Counselor and Aldermen of the City
of Annapolis shall annually levy a tax on the assessable prop-
erty of the City sufficient to pay the interest on the bonds out-
standing and the principal of the bonds maturing during the
succeeding year.

SEC. 5. And be it further enacted, That no bonds shall be
issued or sold under the provisions of this Act until additional
territory has been annexed or added to the City of Annapolis,
after the passage of this Act.

SEC. 6. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the Imme-
diate preservation of the public health and safety and having
been passed upon by yea and nay vote, supported by three-