314 LAWS OF MARYLAND. [CH. 184

sale thereof into a special account or fund, which shall be
used exclusively for the payment of the maturing principal
of the above described street and sidewalk improvement bonds
issued July 1, 1929, under the authority of Chapter 66 of the
Acts of the General Assembly of Maryland, passed at its
January Session in the year 1929. Said proceeds of sale
shall be used for no other purpose than the refunding of the
above described street and sidewalk improvement bonds
through payment thereof at or after maturity or through the
reimbursement of the general funds of the municipality for
any payment of the maturing principal and interest of said
bonds made by said municipality. All expenses involved in
the issuance and sale of the bonds authorized hereby shall be
paid by said municipality from its general funds not other-
wise appropriated or from any premium received in the sale
of said bonds. The maturing interest on the bonds to be
refunded by the bonds authorized hereby shall likewise be
paid by said municipality from its funds heretofore author-
ized for that purpose and, similarly, any interest due on
said bonds after maturity and prior to payment thereof shall
be paid by said municipality from its general funds and
shall not constitute a charge against the proceeds of the
sale of the bonds authorized hereby.

SEC. 5. And be it further enacted, That any and all bonds
issued pursuant to the authority of this Act, the interest pay-
able thereon and the income derived therefrom in the hands
of the holders thereof from time to time shall be and is
hereby declared to be exempt from State, county and munici-
pal taxation of every kind and nature whatsoever in the
State of Maryland.

SEC. 6. And be it further enacted, That the above described
street and sidewalk improvement bonds dated July 1, 1929,
maturing July 1, 1949, and issued pursuant to the authority
of said Chapter 66 of the Acts of the General Assembly of
Maryland, passed at its January Session in the year 1929, be
and the same are hereby declared to be the valid and binding
general obligations of the Mayor and Council of Crisfield,
notwithstanding any legal or procedural defect which may
exist or which may be found to exist in the issuance thereof,
or in said Act of Assembly authorizing the same, or in the
expenditure by said municipality of the proceeds of sale
thereof, and no such defect shall in any way impair or affect
the legal validity and sufficiency of the bonds authorized
hereby, if issued and sold in accordance with the provisions
hereof.