562 LAWS OF MARYLAND [CH. 300

respectively, mature. The Mayor and Town Council is
authorized and empowered to borrow any such sum and
to issue its certificates of indebtedness therefor for any
general municipal purpose of the Town of Oakland. The
ordinance providing for the borrowing of such money and
the issuing of such certificates of indebtedness shall desig-
nate the sum of money to be borrowed and the purpose
or purposes for which the said certificates of indebtedness
are to be issued. Said bonds shall be sealed with the cor-
porate seal of the Mayor and Town Council of Oakland and
shall be signed by the Mayor thereof and countersigned
by some other official as may be designated in the ordi-
nance. Said bonds shall be offered for sale by solicitation
of competitive bids at public sale, in accordance with the
provisions of Section 33 of Article 31 of the Annotated
Code of Maryland (1951 Edition, as amended), except that
the notice of sale provided for by such section may be
published in condensed form if it shall include a state-
ment where a full and complete copy of said notice may be
obtained. The money arising from the sale of said bonds
shall be used only for the purposes specified in the ordi-
nance or ordinances authorizing the sale of the bonds or
other certificates of indebtedness. Said bonds or other
certificates of indebtedness, when issued, and the interest
payable thereon in the hands of the persons who, from
time to time, are entitled thereto, shall be exempt from all
state, municipal and county taxation of every kind and
nature whatsoever.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1953.

Approved April 6, 1953.

CHAPTER 300

(Senate Bill 452)

AN ACT to authorize the County Commissioners of Garrett
County to borrow upon the faith and credit of said
County the sum of $200, 000. 00 at a rate of interest not
to exceed 3 per centum (3%) per annum, and to issue

——————

EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.