198 LAWS OF MARYLAND. [CH. 122

to be attached thereto, if any, the denomination or denomi-
nations of said bonds and the place or places of payment
of the principal and interest thereof, which may be at any
bank or trust company within or without the State of
Maryland. In case any officer whose signature shall appear
on any such bond, or on the coupons attached thereto,
shall cease to be such officer before the delivery thereof,
such signature shall nevertheless be valid and sufficient
for all purposes, the same as if he had remained in office
until such delivery. It may be provided in any such ordi-
nance that the signatures or seal affixed to any such bonds
or coupons attached thereto may be printed, lithographed
or engraved thereon. Said bonds may by any such ordi-
nance be authorized in coupon or in registered form, or
both, and provisions may be made for the registration of
said bonds, having coupons attached, as to principal alone
and, also, as to both principal and interest, and for the
reconversion of said bonds into coupon form, if any of
such bonds shall have been registered as to both principal
and interest.

SEC. 4. And be it further enacted, That any and all
bonds issued pursuant to the authority of this Act, the
interest payable thereon and the income derived there-
from in the hands of the holders thereof from time to time
shall be and is hereby declared to be exempt from State,
county and municipal taxation of every kind and nature
whatsoever in the State of Maryland.

SEC. 5. And be it further enacted, That in the event,
following the acquisition and full payment of said water
supply system, sewerage system and sewage disposal plant,
or after sufficient funds have been set aside for said pur-
pose or bonds allocated thereto, in accordance with the
terms of the contract above required, there shall remain
in the hands of the Town any unexpended proceeds of said
bonds, or any of said bonds shall remain unissued, the
Town shall have, and it is hereby granted, the authority
to expend such proceeds on, or to issue said bonds for the
purpose of providing moneys for, extensions, additions
or repairs to said water supply system, sewerage system
or sewage disposal plant.

SEC. 6. And be it further enacted, That the Town is
hereby authorized, empowered and directed to levy upon
all property subject to assessment for taxation at the full
municipal rate, ad valorem taxes, without limitation as to
rate or amount, for the purpose of providing funds to
meet the principal and interest maturities of the bonds