THEODORE R. MCKELDIN, GOVERNOR 1673

during the construction of said sewerage system and/or
sewage treatment plant.

The Town Commissioners of the Town shall determine the
form of the bonds, including any interest coupons to be at-
tached thereto, the denomination or denominations of the
bonds and the place or places of payment of principal and
interest thereof, which may be at any bank or trust com-
pany within the State of Maryland. The bonds shall be
signed by the President of the Town Commissioners of the
Town and the official seal of the Town shall be affixed
thereto and attested by the Town Clerk, and any coupons
attached thereto shall bear the facsimile signature of the
President of the Town Commissioners of the Town. In
case any officer whose signature or a facsimile of whose
signature shall appear on any bonds or coupons shall cease
to be such officer before the delivery of such bonds, such
signature or such facsimile shall nevertheless be valid and
sufficient for all purposes the same as if he had remained in
office until such delivery. The bonds may be issued in
coupon or in registered form, or both, as the Town Com-
missioners of the Town may determine, and provision may
be made for the registration of any coupon bond as to
principal alone and also as to both principal and interest,
and for the reconversion into coupon bonds of any bonds
registered as to both principal and interest. All bonds
issued under this Act, their transfer and the income there-
from (including any profit made on the sale thereof) shall
at all times be free from taxation by the State of Mary-
land, or by any of its political sub-divisions, or by any
town or incorporated municipality or other public agency
within the State.

The bonds shall be dated, shall bear interest at such rate
or rates not exceeding four and one-half per centum
(4-½%) per annum, shall mature at such time or times, not
exceeding forty (40) years from their date or dates, as
may be determined by the Town Commissioners of the
Town. The bonds 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 Commissioners of the Town prior to the issuance of
the bonds.

The bonds issued under this Act shall be exempt from the
provisions of Sections 32, 33 and 34 of Article 31 of the An-
notated Code of Maryland (1951 Edition), and the Town
may issue and sell said bonds in such manner, either at
public or private sale, and for such prices, as it may de-