914 LAWS OF MARYLAND. [CH. 368

WHEREAS,, it is now the intention to consolidate the sums
above, to provide for the application of the total amount for
acquisition of land, and the contraction of any and all works
needed or necessary for flood protection work in and around
the City of Cumberland; therefore

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Chapters 456 and 457 of the Acts of 1937, and
Chapter 743 of the Acts of 1939, be and the same are hereby
repealed.

SEC. 2. And be it further enacted, That the Mayor and City
Council of Cumberland be and they are hereby authorized
and empowered to issue bonds in the amount of Eight Hun-
dred Thousand Dollars ($800, 000. 00), payable serially and in
such amounts annually as the said Mayor and City Council
shall by ordinance determine, and to sell the same in whole
or in part and to apply the proceeds thereof as hereinafter
provided; said bonds shall be of the denomination of One
Thousand Dollars ($1, 000. 00) each, and shall be exempt from
City, County and State taxes and shall bear interest at a rate
of not more than four per cent. (4%) per annum, payable
semi-annually, for which proper interest coupons are to be
attached to said bonds; said bonds shall be signed by the
Mayor of the City of Cumberland and duly attested by the
City Clerk with the corporate seal of the City thereunto
attached.

SEC. 3. And be it further enacted, That for the purpose of
paying the interest upon said bonds and retiring said bonds
at maturity, the said Mayor and City Council shall assess
against the assessable property in the City of Cumberland
in each year during the continuance of said bonds, a sum of
money sufficient to pay the interest upon said bonds and such
further sums as may be necessary for the purpose of paying
off such part of said bonds as shall mature and be payable
in each year, and shall use said money in the payment of said
interest and the principal of said bonds until the whole thereof
has been paid.

SEC. 4. And be it further enacted, That the Mayor and
City Council of Cumberland shall cause proper advertisement
to be made in stating the time and place where bids, condi-
tioned as the said Mayor and City Council may require, will
be opened for the sale of said bonds as a whole or in parts,
reserving unto itself the right to reject any and all bids. Said
bids together with such certified checks as may be required
shall be filed with the City Clerk and at the time and place
advertised shall be opened by him in the presence of the said