72 LAWS OF MARYLAND. [CH. 68

of Easton, or paying obligations already incurred for
such purposes; exempting said bonds from State, County
and Municipal taxation and from the provisions of Sec-
tions 169, 203, 204 and 206 of Article 21 of the Code
of Public Local Laws of Maryland; and to provide for
the payment of said bonds, both principal and interest,
by the levy of taxes upon all taxable property in the
Town of Easton.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That The Mayor and Council of Easton, a municipal cor-
poration of the State of Maryland, be and it is hereby
authorized and empowered to issue at one time or from
time to time, upon the full faith and credit of the Town
of Easton, coupon bonds in an amount or amounts not
exceeding in the aggregate Two Hundred and Fifty Thou-
sand Dollars ($250, 000. 00), in order to obtain funds for
the purpose of providing additional equipment for, and
making improvements, replacements and repairs in the
electric system and plant of the Town of Easton, or for
the purpose of paying obligations already incurred for
such purposes by the Mayor and Council of Easton and
represented by its outstanding notes. Said bonds shall be
designated "THE ELECTRIC PLANT IMPROVEMENT
BONDS OF THE TOWN OF EASTON, " and shall be in
such denomination or denominations, and in such form,
periods of maturity not exceeding twenty years, and rate
or rates of interest not exceeding five per cent. (5%), as
The Mayor and Council of Easton may deem advisable,
with coupons attached thereto for the payment of interest
thereon semi-annually until maturity. Said bonds shall
be signed by the Mayor of Easton and countersigned by the
Town Clerk thereof, with the seal of said Town affixed
thereto; and the coupons shall be signed by the facsimile
signature of the Mayor of Easton, printed, engraved or
lithographed thereon. Within the limitations hereinbefore
set forth, the said The Mayor and Council of Easton shall
determine by ordinance the rate or rates of interest to
be paid on the bonds, the maturities, the form of the bonds,
the medium of payment, and the place or places at which
the principal and interest shall be payable. The bonds may
be made registerable as to principal only under such terms
and conditions as may be determined by The Mayor and
Council of Easton. In case any of the officers whose signa-
tures appear on the bonds and coupons shall cease to be
such officers before the delivery of such bonds, such sig-
natures shall nevertheless be valid and sufficient for all