1080 LAWS OP MARYLAND [CH. 352

of engraving and all other incidental expenses connected
with the issuance of such bonds, shall be used for the pur-
pose of purchasing all the properties, real and personal,
all rights-of-way of the Walkersville Water Company, a
private corporation.

SEC. 2. And be it further enacted, That said bonds
if issued shall be issued in such denominations as
shall be determined by the said Burgess and Commission-
ers, and shall bear interest at a rate to be determined by
said Burgess and Commissioners, not in excess of four
per cent. (4%) per annum. The issue of said bonds must
comply strictly with the provisions of Sections 35 and 36
of Article 31 of the Annotated Code of Maryland (1939
Edition and 1947 Supplement); said bonds shall be ex-
empt from all State, county and municipal taxation, and
shall have printed on them a distinct reference to the Act
authorizing their issuance.

SEC. 3. And be it further enacted, That the Burgess
and Commissioners of Walkersville, in the event
any of said bonds are issued, be and it is hereby authorized
and directed to use the excess revenues of the water sys-
tem after the cost of operation and maintenance thereof
to redeem the bonds at their maturity and to pay the in-
terest thereon, and if such revenues are not sufficient, the
the said Burgess and Commissioners shall levy a tax suf-
ficient to make up such deficiency each year. In case such
bonds shall be issued in any year after the making of the
regular levy for that year, then said Burgess and Com-
missioners is authorized and directed to pay any and all
interest coming due before the next levy out of any other
funds at its disposal and to levy at the next succeeding
levy, to reimburse such other funds.

SEC. 4. And be it further enacted, That the Burgess and
Commissioners of Walkersville be and it is hereby au-
thorized and empowered to do all acts and things necessary
to issue and sell said bonds, to have the same registered
if necessary, and to do all things necessary to carry out
the purposes of this Act, even though the same may not
be specifically mentioned herein or in any other Act re-
lating to said town.

SEC. 5. And be it further enacted, That before any bonds
shall be issued, under the provisions of this Act, the ques-
tion shall be submitted to the qualified voters of said
municipality, either at the annual election, or at a special