THEODORE R. MCKELDIN, GOVERNOR 1145

per annum, computed with relation to the absolute maturity
of the bonds in accordance with standard tables of bond values,
excluding, however, from such computation the amount of any
redemption premium. Such bonds shall not be subject to the
provisions of Section 36 of said Article 31, Code of Public
General Laws of Maryland (1939 Edition), but they shall be
issued on an annual serial maturity plan so that a certain num-
ber of said bonds will mature in consecutive annual serial in-
stallments. The City may provide by ordinance the conditions
under which it will replace any bonds which may become
mutilated or be destroyed or lost after the issuance thereof.

SEC. 4. And be it further enacted, That the bonds hereby
authorized to be issued and the interest paid thereon, in the
hands of the persons entitled thereto, from time to time, shall
be and remain exempt from all State, county and municipal
taxation of any kind and nature whatsoever in the State of
Maryland.

SEC. 5. And be it further enacted, That in order to provide
for the payment of the principal and interest of said bonds as
and when the same respectively mature and are payable, the
City shall, in each year that any of said bonds are outstanding,
levy upon all property subject to assessment for taxation
within the corporate limits of the City, ad valorem taxes suf-
ficient in rate and amount to provide the moneys necessary to
pay said principal and interest when due. Said taxes shall be
levied without regard to any present or future limitations on
the powers of taxation of the City and shall have the same
priority and lien and shall be levied and collected in the same
manner as other City taxes and the payment thereof shall be
enforced in the same manner as payment of such other City
taxes are enforced.

SEC. 6. And be it further enacted, that the City is hereby
authorized and empowered to accept from any Federal or State
Agency, grants for or in aid of any of the projects listed in
Section 2 hereof, and to make such contracts containing such
terms, provisions and conditions as in the discretion of said
City may seem necessary, proper or advisable for the purpose
of obtaining or securing such grants or financial assistance
from any such Federal or State Agency willing to extend the
same in furtherance of any of the purposes of this Act.

SEC. 7. And be it further enacted, that any and all laws or
parts of laws or any part or parts of the Charter of the City
conflicting in any way herewith are hereby repealed, with re-
spect to the authority hereby granted, to the extent of such
conflict, and, except as herein provided, none of the limita-
tions or restrictions on the powers of the City to borrow money,