116 LAWS OF MARYLAND [CH. 59

tion 3 of this Act, and to evidence said borrowing by the
issuance to the lender or lenders of its general obligation,
serial maturity coupon bonds, in like part amount.

SEC. 2. And be it further enacted, That the City, by ordi-
nance, is hereby authorized and empowered to expend, from
the proceeds of the sale of any of said bonds so issued, not
exceeding Twenty-Five Thousand Dollars ($25, 000. 00), for
improvements, extensions and repair of any of the streets,
lanes and alleys of the City and not exceeding Twenty-Five
Thousand Dollars, ($25, 000. 00), for improvements, exten-
sions and maintenance and repair of the water system of
the City. With respect to said water supply, such improve-
ments, extensions, maintenance and repairs may be made
either within or outside the corporate limits of the City and
the kind, nature, type and location of the improvements, ex-
tensions, maintenance and repair of said streets, lanes and
alleys and said water supply system shall be as determined
by any such ordinance of the City, subject only to the ap-
proval of the State Board of Health of Maryland in the case
of the water supply system. For the purposes of this Act,
the words "improvements, extensions, maintenance and re-
pairs" shall embrace any construction, work, material or
equipment which it is within the corporate powers of the
City to undertake or acquire in the maintenance, operation
and enlargement of its streets, lanes and alleys and its
water supply system.

SEC. 3. And be it further enacted, That said bonds, and
the coupons attached thereto, shall be in such form and
denominations and shall be executed and delivered in such
manner as the City may from time to time decide, such de-
cision, however, to be made, with respect to each particular
group of bonds, sold prior to the delivery thereof, by one
or more legally adopted ordinances. Such bonds, as issued,
shall be dated, shall bear interest at such rate or rates not
exceeding Four Per Centum (4%) Per Annum, payable
semi-annually and shall mature in consecutive annual serial
installments at such time or times not exceeding Forty (40)
years from their date or dates of issue as may be deter-
mined in said ordinances above referred to. Said bonds,
or any of them, may be made redeemable before maturity
at the option of the City at such price or prices and under
such terms and conditions as may be fixed by the City in
said ordinance or ordinances. The principal and interest
of such bonds may be made payable in any lawful medium
and the City may fix the place or places of such payment,
which may be at any bank or trust company within or