WM. PRESTON LANE, JR., GOVERNOR. 1093
CHAPTER 448
(Senate Bill 238)

AN ACT to authorize and empower The Town Commis-
sioners of Centreville to issue coupon bonds upon the
faith and credit of the Town of Centreville in an amount
not exceeding One Hundred and Fifty Thousand Dollars
($150, 000. 00) at a rate of interest not exceeding four
per centum (4%), and to provide generally the terms
of said bonds and the terms and manner of the sale
thereof; to provide that the proceeds thereof shall be
used for the purpose of providing additional equipment
for, and making improvements, replacements and re-
pairs in the electric system and plant of the Town of
Centreville, or paying obligations already incurred for
such purposes; to provide for the payment of said bonds,
both principal and interest, by the levy of taxes upon all
taxable property in the Town of Centreville; and ex-
empting said bonds from State, County and Municipal
taxation in the State of Maryland.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That The Town Commissioners of Centreville, a municipal
corporation of the State of Maryland, be and it is hereby
authorized and empowered, in its discretion, to issue at
one time or from time to time, upon the full faith and
credit of the Town of Centreville, coupon bonds in an
amount or amounts not exceeding in the aggregate the
sum of One Hundred and Fifty Thousand Dollars ($150, -
000. 00), in order to obtain funds for the purpose of pro-
viding additional improvements, replacements and repairs
in the electric system and plant of said municipal corpo-
ration, or for the purpose of paying obligations already
incurred for such purposes by The Town Commissioners
of Centreville and represented by its outstanding notes.

SEC. 2. And be it further enacted, That said bonds
shall be designated "Centreville Electric Plant Improve-
ment Bonds of 1949" and shall be in such denomination or
denominations, and in such form, periods of maturity not
exceeding twenty-five (25) years, and rate or rates of
interest not exceeding four per centum (4%), as The
Town Commissioners of Centreville may deem advisable,
with coupons attached thereto for the payment of interest
thereon semi-annually until maturity. Said bonds shall be
signed in the name of said municipal corporation by the
President thereof, and its corporate seal affixed thereto,
attested by its Secretary, and the coupons for interest may