THEODORE R. MCKELDIN, GOVERNOR 579

ing, printing, advertising and other outlays with respect
to the issuance of said bonds, and (d) paying the interest
on said bonds during the construction of said sewerage
system and/or sewage treatment plant.

The Town shall determine the form of the bonds, includ-
ing any interest coupons to be attached thereto, the denom-
ination 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 company within the State of
Maryland. The bonds shall be signed by the Mayor of the
Town and the official seal of the Town shall be affixed
thereto and attested by the Clerk of the Town and any
coupons attached thereto shall bear the facsimile signature
of the Treasurer of the Town. In case any officer whose
signature or a facsimile of whose signature shall appear
on any bonds or coupon shall cease to be such officer before
the delivery of such bonds, such signature or such fac-
simile 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 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
therefrom (including any profit made on the sale thereof)
shall at all times be free from taxation by the State of
Maryland, 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
(4½%) 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. 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 prior to the issu-
ance 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 Annotated 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
determine to be for the best interests of the Town, but no
such sale shall be made at a price so low as to require the