1236 LAWS OF MARYLAND [CH. 638

voters of the Town at a general or special election, and
unless a majority of those voting on such question have
approved the loan.

101. (Serial Bonds) All bonds sold by the Town pur-
suant to the powers granted by this sub-title shall be

issued in the form of serial bonds.

102. (Redemption) The Town Commissioners shall
levy and collect such a tax on the assessable property of
the Town as may be necessary to pay the interest on all
bonds issued and sold by the Town, under the provisions
of this sub-title, and to provide for the redemption thereof,
all agreeably to the terms of any such issue. If any funds
remain from the amount borrowed after accomplishing
the purposes for which borrowed, such surplus moneys
shall be used only for the redemption of the principal
amount of the particular bonds so issued and sold.

103. (Tax Exemption) All bonds and notes issued
and sold by the Town Commissioners under the authority
of this sub-title shall be exempt from all State, County
and Municipal taxes in Maryland, unless otherwise specified.

ARTICLE VIII
ELECTRIC PLANT DEPARTMENT

104. (Department) There shall be an Electric Plant
Department which shall have three divisions, the Plant
Division, the Maintenance and Distribution Division and
the Office Division, each of which shall have a manager
who shall be appointed by the Town Commissioners and
who shall supervise the operation of the same.

105. (Powers) The Town Commissioners, through the
Electric Plant Department, are authorized and empowered
to construct, operate and maintain an electric light, heat
and power system, and they shall have the following
powers in connection therewith, to wit:

(1) To construct, erect, extend, enlarge or acquire by
purchase, lease, gift, devise, or by condemnation in the
manner prescribed in Article S3A of the Annotated Code
of Maryland, an electric light, heat and power system suf-
ficient for the purpose of properly lighting the streets and
alleys of the Town and for furnishing the citizens, inhab-
itants and corporations of the Town, Queen Anne's County
and Caroline County, Maryland, within and adjacent to
the Town of Bridgetown with electricity in all forms and
for all purposes.