1232 LAWS OF MARYLAND [CH. 431

negotiable promissory notes, certificates of indebtedness,
and/or bonds of the Commissioners of Aberdeen, to be signed
by the President of said Commissioners and the Treas-
urer of said Town, with the seal of the Town affixed thereto, in
such denominations, payable at such place and at such date or
dates as the Commissioners of Aberdeen shall by resolution
provide, and/or to issue and sell said notes, certificates of in-
debtedness and/or bonds upon the faith and credit of the Town
of Aberdeen such amount or amounts as said Commissioners
shall determine, but the total amount of such notes, certificates
of indebtedness, and/or bonds issued under this Act shall not
exceed Seventy-five Thousand Dollars ($75, 000). The said
notes, certificates of indebtedness and/or bonds shall bear
interest at such rate or rates, not exceeding 5% per annum, as
shall be provided by resolution of the Commissioners, and in
the event of issuance of bonds, to be evidenced by semi-annual
coupons attached to said bonds and bearing the facsimile
signature of the Treasurer of Aberdeen. If bonds are issued,
the provisions of Sections 35 and 36 of Article 31 of the Anno-
tated Code of Maryland (1939 Edition, as amended) shall be
complied with. Said Commissioners are authorized to borrow
under the provisions of this Act by selling the negotiable
promissory notes, certificates of indebtedness and/or bonds
herein authorized, at a discount less than the principal amount
thereof, provided that such discount shall not exceed 5% per
annum on the principal of said loan. The said loan and every
part thereof and every note, certificate of indebtedness, bond,
coupon or other evidence thereof, and the interest payable
thereon shall be and remain exempt from State, County and
Municipal Taxation.

SEC. 3. And be it further enacted, That the proceeds derived
from said loan shall be placed in a special fund by the Town
Treasurer, and shall be paid out by him only on warrants
from the Commissioners of Aberdeen, which warrants shall be
issued only upon proper vouchers presented for the installa-
tion of sewerage and water pipe lines.

SEC. 4. And be it further enacted, That for the purpose of
paying the interest on said notes, certificates of indebtedness,
and/or bonds and for redeeming said notes, certificates of
indebtedness and/or bonds as they mature, the Commissioners
of Aberdeen shall annually levy a special tax upon the assess-
able property of said town, in the areas improved by said
installation of sewerage and water pipe lines, sufficient to pay
the annual interest on said notes, certificates of indebtedness
and/or bonds and to redeem said notes, certificates of indebted-
ness, and/or bonds as they become due and until all of said
notes, certificates of indebtedness and/or bonds shall mature