292 LAWS OF MARYLAND [CH. 144

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mayor and Council of Easton, a muni-
cipal corporation of the State of Maryland, be and it is
hereby authorized and empowered to issue at one time or
from time to time, upon the full faith and credit of the
Town of Easton, coupon bonds in an amount or amounts not
exceeding in the aggregate Five Hundred Thousand Dol-
lars ($500, 000. 00), in order to obtain funds for the pur-
pose of providing additional equipment for making im-
provements, replacements, additions and repairs to the elec-
tric system and plant of the Town of Easton. Said bonds
shall be designated "Easton, Maryland, Electric System
and Plant Improvement Bonds of 1953", and shall be in
such denominations, and in such form, periods of maturity
not exceeding thirty (30) years, and rate or rates of in-
terest not exceeding Five (5%) per cent, as the Mayor and
Council of Easton may deem advisable, with coupons at-
tached thereto for the payment of interest thereon semi-
annually until maturity. Said bonds shall be signed by
the Mayor of Easton and countersigned by the Town Clerk
thereof, with the seal of said Town affixed thereto; and the
coupons shall be signed by the facsimile signature of the
Mayor of Easton, printed, engraved or lithographed there-
on. Within the limitations hereinbefore set forth, the said
the Mayor and Council of Easton shall determine by ordi-
nance the rate or rates of interest to be paid on the bonds,
or the method of determining same, the maturities, the
form of the bonds, the medium of payment, and the place
or places at which the principal and interest shall be pay-
able. The bonds may be made registerable as to principal
only under such terms and conditions as may be determined
by the Mayor and Council of Easton. In case any of the
officers whose signatures appear on the bonds and coupons
shall cease to be such officers before the delivery of such
bonds, such signatures shall nevertheless be valid and
sufficient for all purposes, as if they had remained in
office until such delivery.

SEC. 2. And be it further enacted, That the Mayor and
Council of Easton shall offer said bonds for sale in all re-
spects subject to the provisions of Sections 34 to 36 in-
clusive of Article 31 of the Annotated Code of Maryland,
as amended, but shall have the privilege of additional ad-
vertising than that provided for in said sections, and no
bid shall be accepted at less than par and accrued interest.
The entire issue of bonds may be offered at one time, or
they may be offered in varying amounts at different inter-
vals, as may appear most advantageous to the Mayor and