580 LAWS OF MARYLAND [CH. 307

payment of interest on the money received therefor at more
than four and one-half per centum (4½%) per annum,
computed with relation to the absolute maturity of the
bonds in accordance with standard tables of bond values,
excluding, however, from such computation the amount of
any premium to be paid on redemption of any bonds prior
to any maturity.

The proceeds of said bonds shall be placed in a special
fund by the Treasurer of the Town and shall be paid out
by him solely for the purposes set forth in this section.

494. The Mayor and Common Council of Union Bridge,
for the purpose of redeeming said bonds at their maturity,
and for the purpose of securing the prompt payment of the
interest thereon, be and they are hereby authorized and
directed to levy each year, so long as said bonds are out-
standing and not paid, such tax on all property subject to
assessment for taxation within the corporate limits of the
Town as shall be necessary to pay the interest on all such
bonds that may be issued and outstanding under this Act,
as the same shall become due and payable, and to pay and
retire all of said bonds as they shall mature. In case such
bonds shall be issued in any year after the making of the
regular levy for that year, then the Town is authorized
and directed to pay any and all interest coming due before
the next levy either out of the proceeds of the sale of said
bonds or out of any other funds in its disposal, as it may
determine, and to levy at the next succeeding levy, to
reimburse such other funds or such bond proceeds. The
aforesaid taxes shall be levied without regard to any pres-
ent or future limitation or limitations on the taxing powers
of the Town, either as to rate or amount, and shall have
the same priority and lien and shall be levied and collected
in the same manner as other town taxes and the payment
thereof shall be enforced in the same manner as payment
of other town taxes are enforced.

495. The Town is hereby authorized to accept from the
United States of America or any agency thereof, the State
of Maryland or any agency thereof, or the County Com-
missioners of Carroll County grants for or in aid of said
sewerage system and sewage treatment plant and to make
such contracts containing such terms, provisions and condi-
tions as in the discretion of the Town may be necessary,
proper or advisable for the purpose of obtaining or secur-
ing such grant or financial assistance from such govern-
mental body or agency thereof willing to extend the same
in furtherance of any of the purposes of this Act.