312 LAWS OF MARYLAND. [CH. 184

funds derived from the issuance and sale, upon the full faith
and credit of said municipality, of its twenty (20) year
serial maturity general obligation bonds; providing for the
issuance and sale of said bonds and all details thereof and
incident thereto; authorizing said municipality to pay the
maturing principal and interest of said bonds by the levy
and collection of ad valorem taxes, without limitation as
to rate and amount, on all property subject to assessment
for full municipal taxation within the corporate limits of
said municipality; providing that the proceeds of the sale
of said bonds shall be used only to pay the maturing prin-
cipal of the bonds to be refunded above described; validat-
ing said bonds so to be refunded.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That in order to enable the Mayor and Council of Cris-
field, a municipal corporation of the State of Maryland, to
refund its issue of Twenty Thousand Dollars ($20, 000. 00) par
amount of sidewalk and street improvement bonds issued
July 1, 1929, pursuant to the authority of Chapter 66 of the
Acts of the General Assembly of Maryland, passed at its
January Session in the year 1929, and maturing July 1, 1949,
said municipality is hereby authorized and empowered to
borrow on its full faith and credit at any time during the
period of one year from the effective date of this Act the sum
of Twenty Thousand Dollars $20, 000. 00) and to evidence said
borrowing by the issuance and sale of its general obligation
serial maturity coupon bonds in like par amount.

SEC. 2. And be it further enacted, That before borrowing
any money or issuing any bonds pursuant to the authority
of this Act, the Mayor and Council of Crisfield shall adopt an
ordinance or resolution providing for the issuance and sale
of said bonds and the disposition of the proceeds of such
issuance and sale, including all details of said bonds so to be
issued as well as all details incident to the refunding of the
outstanding bonds dated July 1, 1929. All of said bonds so
to be issued shall be identified as "Crisfield Refunding Bonds
of 1949" and in each such bond there shall be a clear reference
to this Act as the authority therefor. Said ordinance author-
izing the issuance and sale of said bonds shall clearly pre-
scribe the form and tenor of said bonds and the coupons to be
attached thereto, the method of executing and delivering the
same and the conditions of the sale thereof; provided, how-
ever, that said bonds shall be issued on a twenty (20) year
serial maturity plan, One Thousand Dollars ($1, 000. 00) par
amount of said bonds to mature and be payable in each con-
secutive year from the date of issue of said bonds, so that all