THEODORE R. MCKELDIN, GOVERNOR 571

Such bonds shall be dated, shall bear interest at such rate
or rates not exceeding five per centum (5%) per annum,
payable semi-annually, shall mature at such time or times
not exceeding forty (40) years from their respective date
or dates of issue as may be determined in said ordinances
above referred to, and said bonds, or any of them, may be
made redeemable before maturity, at the option of the
Town, at such price or prices and under such terms and
conditions as may be fixed by the Town in the ordinance
or ordinances adopted prior to the delivery of the bonds.
The principal and interest of such bonds may be made
payable in any lawful medium, and the Town may fix the
place or places of such payment, which may be at any
bank or trust company within or without the State. In
case any officer whose signature shall appear on any such
bonds or the coupons attached thereto shall cease to be
such officer before delivery of such bonds, such signature
shall, nevertheless, be valid and sufficient for all purposes
in the same manner as if he had remained in office until
delivery. Provision may be made by the Town for the
registration of any such bonds in the name of the owner
or owners thereof as to principal alone, and, also, as to
both principal and interest, and for the reconversion of
said bonds so registered as to principal and interest into
coupon bonds. Such bonds may be issued without regard
to any limitation on the incurring of indebtedness by the
Town prescribed by any other law, and none of the pro-
visions of Section 219 of Article 5 of the Code of Public
Local Laws of Maryland (1930 Edition), as amended,
shall be applicable to the authority hereby conferred. It
shall not be necessary for the Town to submit to a refer-
endum of the qualified voters of the Town its decision to
borrow money and to issue bonds pursuant to the authority
hereof for the improvements described in Section 1 hereof,
but said decision shall be final. In negotiating any such
loan, the provisions of Section 35 of Article 31 of the Code
of Public General Laws of Maryland (1939 Edition) shall
be inapplicable. Said bonds may be sold for such price or
prices, either at, above or below the par value thereof, as
the Town may from time to time determine to be for its
best interest, but no such sale shall be made at a price
so low as to require the payment of interest on the money
received therefor at more than five per centum. (5%) 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. Within the limita-
tion prescribed hereby, said bonds shall be issued to