WM. PRESTON LANE, JR., GOVERNOR. 1199

issue coupon bonds for payment of the same, to be
known as "Water Improvement Bonds of 1949", and to
sell the same and to use the proceeds thereof for the
purpose of construction and installation of settling
basins; filters; valves; new chemical building; repairs
to Lake Gordon Dam; residence of plant superintendent,
and other necessary improvements to the water plant
installation at Lake Gordon, and to provide for the pay-
ment of said bonds and the interest thereon.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Mayor and City Council of Cumberland be and
it is hereby authorized and empowered to issue "Water
Improvement Bonds of 1949", to the amount of Three
Hundred Fifty Thousand Dollars ($350, 000. 00), payable
serially and in such amounts annually as the Mayor and
City Council shall by ordinance determine; and to sell the
same; said bonds shall be of the denomination of One
Thousand Dollars ($1, 000. 00) each and shall be exempt
from State, County and Municipal taxes. Said bonds shall
be signed by the Mayor of the City of Cumberland and
attested by the City Clerk, with the corporate seal of the
City thereto attached and shall bear interest at the rate
of not more than four per cent (4%) per annum, payable
semi-annually, for which interest proper coupons are to be
attached to said bonds.

SEC. 2. And be it further enacted, That the said Mayor
and City Council shall, by ordinance, cause advertisement
to be made setting the time and place where bids condi-
tioned as may be required by said ordinance will be opened
for the sale of said bonds, reserving unto itself the right to
reject any and all bids. Said bids shall be filed with the
City Clerk of the City of Cumberland, and at the time and
place advertised shall be opened by him in the presence
of the Mayor and City Council; and if said bids be satis-
factory to the Mayor and City Council, it shall sell said
bonds, or any part thereof to the highest bidder or bidders,
of whose ability to comply with the terms of sale the said
Mayor and City Council, in its discretion, is satisfied.

SEC. 3. And be it further enacted, That upon the sale
of said bonds or any part thereof, the proceeds thereof
shall be placed in a separate fund and used by the Mayor
and City Council of Cumberland for the purpose of con-
struction and installation of settling basins; filters; valves;
new chemical building; repairs to Lake Gordon Dam; resi-
dence of plant superintendent, and other necessary im-