THEODORE R. MCKELDIN, GOVERNOR 1761

powered to issue bonds to be known as "Cumberland Off-Street
Parking Bonds" in such total amount as the said Mayor and
City Council shall determine, payable serially and in such
amounts annually as the Mayor and City Council shall by
ordinance determine, and to sell the same; said bonds shall be
in the denomination of One Thousand Dollars ($1, 000. 00) each
and shall be exempt from State, County and Municipal taxes.
Said bonds shall be signed by the Mayor and attested by the
City Clerk, with the corporate seal of the City of Cumberland
thereto attached, and shall bear interest at the rate of not
more than four per cent (4%) per annum, payable semi-annual-
ly, for which interest proper coupons are to be attached to said
bonds.

SEC. 3. And be it further enacted, That the said Mayor and
City Council shall by ordinance, cause advertisement to be
made setting the time and place where bids conditioned as
may be required by said ordinance will be opened for the sale
of said bonds, reserving unto itself the right to reject any and
all bids. Said bids shall be filed with the City Clerk of the City
of Cumberland, and at the time and place advertised shall be
opened by him in the presence of the Mayor and City Council;
and if said bids be satisfactory to the Mayor and City Council,
it shall sell said bonds, or any part thereof, to the highest
bidder or bidders, of whose ability to comply with the terms
of sale the said Mayor and City Council, in its discretion, is
satisfied.

SEC. 4. And be it further enacted, That upon the sale of said
bonds or any part thereof, the proceeds thereof shall be placed
in a separate fund and used by the Mayor and City Council for
the purpose of acquiring real estate and erecting buildings
thereon for the purpose of operatng- OPERATING and main-
taining thereon a municipal parking lot or garage as herein-
before set forth, and for the payment of all other expenses
incidental thereto, but for no other purpose or purposes
whatsoever. NO GASOLINE OIL, ACCESSORIES
[Strike-through, see page image for text. ]