THEODORE R. MCKELDIN, GOVERNOR 1061

maintenance building, within or without the limits of the
Town of Laurel, and to pay all expenses, including ad-
vertising, printing and legal fees, incurred in the issuance
and sale of any bonds hereunder, the said amount so bor-
rowed to be used for no other purpose whatsoever. Within
the limits above set forth, the amount to be expended for
each of said projects shall be within the discretion of the
Mayor and City Council of Laurel.

SEC. 2. And be it further enacted, That the Mayor and
City Council of Laurel, by proper ordinance or resolution,
may fix the maturity or maturities of any such bonds,
provided, however, that no bonds so issued shall mature
later than twenty-five (25) years from the date of their
issue, and that such bonds shall be issued on the serial
maturity plan; may fix the interest rate or rates, or the
manner of determining the same, the manner and place
of payment, the date, place, and terms of the sale of the
bonds, the form thereof and of the coupons to be attached
thereto, and all details not herein otherwise provided for
with respect to their issuance and sale; said bonds may be
made registerable as to principal; they shall be signed by
the Mayor and countersigned by the Treasurer of Laurel,
and the corporate seal shall be attached thereto, attested
by the Clerk of the City Council. Any bonds issued here-
under, and the interest payable thereon, shall be forever
exempt from State, County and Municipal taxation in the
State of Maryland.

SEC. 3. And be it further enacted, That the Mayor and
City Council of Laurel be and it is hereby authorized, em-
powered and directed to levy each year, so long as any of
said bonds are outstanding and unpaid, an ad valorem tax
on all property subject to taxation within the Town of
Laurel, sufficient in rate and amount to pay the interest
payable in said year on all outstanding bonds and the
principal of all bonds maturing in said year, the proceeds
of said tax to be kept in a special fund and in no case to
be used for any other purpose. In case such bonds shall be
issued in any year after the making of the regular levy for
that year, then the Mayor and City Council of Laurel is
empowered, 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 an amount sufficient to reimburse such other funds.

SEC. 4. And be it further enacted, That the Mayor and
City Council of Laurel be and it is hereby authorized and