290 LAWS OF MARYLAND [CH. 143

taxes thereon in an amount sufficient to pay the prin-
cipal and interest on said note, notes or other evidence
of indebtedness.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That for the purpose of providing funds for the
purchase and installation of an ambulance and accessory
equipment, The City of Salisbury, a municipal corporation
of the State of Maryland, be and it is hereby authorized
and empowered to borrow from time to time a sum or
sums of money not exceeding in the aggregate Ten Thou-
sand Dollars ($10, 000. 00), upon the faith and credit of The
City of Salisbury and to issue and sell its note, notes or
other evidence of indebtedness therefor.

SEC. 2. And be it further enacted, That the said note,
notes or other evidence of indebtedness issued from time
to time under this Act shall be in such denominations and
amounts as shall be determined by the Council of The City
of Salisbury by resolution, shall bear interest at a rate not
exceeding three per centum (3%) per annum, payable
semi-annually, shall mature severally in amounts deter-
mined by the Council of The City of Salisbury by resolution
in not exceeding five (5) years from the date of issue, and
shall be forever exempt from State, County and Municipal
taxation of every kind whatsoever in the State of Mary-
land. Said note, notes or other evidence of indebtedness
shall be signed by the Mayor of Salisbury, with the seal of
the City attached thereto, attested by the Clerk of Salis-
bury. The Treasurer of Salisbury shall sell said note, notes
or other evidence of indebtedness at public or private sale
or by direct negotiation with any State or national banking
institution or other lending agency, subject, however, to the
approval of the Council of The City of Salisbury. The said
Treasurer of Salisbury shall deliver said note, notes or other
evidence of indebtedness so sold to the purchaser or pur-
chasers thereof and receive the money therefor and shall
report under oath to the Council of The City of Salisbury
his proceedings in the premises as soon as possible after
said sale. The proceeds of such borrowings shall be credited
immediately by the Treasurer of Salisbury on his books to
the "Ambulance Fund" to be applied only for the purpose
specified in this Act and the expenses attendant upon the
sale of said note, notes or other evidence of indebtedness.

SEC. 3. And be it further enacted, That The City of Salis-
bury shall annually levy upon all the assessable property
liable to taxation in the City at the regular tax levying