WM. PRESTON LANE, JR., GOVERNOR.. 969

issued hereunder which shall have become mutilated or be
destroyed or lost upon such conditions and after receiving
such indemnity as said municipality may think it proper and
necessary to stipulate and require.

SEC. 3. And be it further enacted, That the bonds hereby
authorized to be issued shall constitute, and they shall so
recite, an irrevocable pledge of the full faith and credit and
unlimited taxing power of the Mayor and Council of Crisfield
to the payment of the maturing principal and interest of said
bonds as and when the same respectively mature. Said mu-
nicipality is hereby authorized and directed to levy ad valorem
taxes, without limitation as to rate or amount, for said pur-
pose, notwithstanding any other statutory limitation on the
power of said municipality to levy such taxes, and said ad
valorem taxes shall be levied on all property subject to assess-
ment for taxation at the full municipal tax rate within the
corporate limits of said municipality as the same may be now
or may hereafter be defined.

SEC. 4. And be it further enacted, That following the
issuance of any bonds pursuant to the authority of this Act,
the Mayor and Council of Crisfield shall establish a separate
account to which the entire net proceeds of the sale of said
bonds shall be credited, and such proceeds so credited to said
account shall thereafter be expended only, upon approval of
the • Mayor and Council of Crisfield, for street and harbor im-
provements in said municipality. Said street improvements
shall include the repair, resurfacing, widening, curbing or
replacement of any existing streets or highways within the
corporate limits of said municipality as well as the construc-
tion of new streets or highways therein, including the im-
provement or surfacing of existing streets not now dedicated
to public use. Said harbor improvements shall include the
construction of bulkheads, piers, docks or stalls for small
boats, as well as dredging or channel construction or improve-
ment and such harbor improvements may be made with sums
authorized to be borrowed hereby upon property belonging to
or acquired by the Mayor and Council of Crisfield as well as
upon property belonging to the State of Maryland or the
United States of America. For the purposes hereof, the net
proceeds of sale of any of said bonds so issued shall be con-
strued to mean the gross sum received for such bonds from
the purchaser or purchasers thereof less accrued interest and
less any expenses incurred by the municipality in the sale of
said bonds, including printing, advertising and legal expenses.
The Mayor and Council of Crisfield may mingle the proceeds
of sale of any bonds issued under the authority of this Act
with any moneys received by said municipality from the State