WM. PRESTON LANE, JR., GOVERNOR. 31

000. 00); empowering said municipality to fix and deter-
mine by ordinance and resolution the form, tenor, interest
rates, or method of arriving at the same, terms, maturities
and all other details incident or necessary to the issuance,
public sale and delivery of said bonds without reference to
any other law heretofore enacted; prescribing the method
and manner of selling said bonds at public sale; empower-
ing said municipality, subject to* certain limitations, to sell
said bonds at, above or below the par value thereof; em-
powering said municipality to contract to levy or to levy,
impose or fix unlimited ad Valorem taxes to provide funds
for the payment of maturing principal and interest of said
bonds, and empowering said municipality to pledge to the
payment of the maturing principal and interest on the
bonds issued for improvements to the water system all water
rents or other charges imposed and collected by said munici-
pality; exempting all said bonds and the interest thereon
from all State, county and municipal taxation in the State
of Maryland.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That in order to enable the Mayor and Aldermen of
Frederick, a body politic and corporate of the State of Mary-
land, to finance the construction, improvement or extension
of public improvements either within or outside the corporate
limits of said municipality, including, without limiting the
generality of said phrase, sanitary sewers, the sewerage dis-
posal plant, storm water sewers, curbs, gutters and streets,
said municipality is hereby granted the power and authority
to borrow a total sum not exceeding Four Hundred and Fifty
Thousand Dollars ($450, 000. 00), and in order to enable said
municipality to< finance the extension and improvement of its
water system, either within or outside its corporate limits,
said municipality is hereby granted the power and authority
to borrow a total sum not exceeding One Hundred and Fifty
Thousand Dollars ($150, 000. 00), said amount to be in ad-
dition to the amount authorized above to be borrowed for
public improvements. All of said borrowing is to be evidenced
by the issuance, at one time or from time to time, of the
general obligation serial maturity bonds of the municipality
upon the terms and conditions hereinafter set forth, provided,
however, that the bonds issued to finance public improvements
and the bonds issued to finance improvements and extensions
to the water system shall be separately and distinctly identi-
fied and designated and separate accounts shall be kept of
the proceeds of sale thereof, although the bonds for both
purposes may be offered by a single notice of sale and bidders