THEODORE R. MCKELDIN, GOVERNOR 847

cil of Boonsboro to purchase or acquire the assets or stock
of the Boonsboro Water Company, Washington County,
by condemnation or otherwise, and to make repairs,
improvements and additions thereto; and to operate and
maintain said Water Works; and to borrow on the faith
and credit of said municipality a sum not to exceed
Seventy-five Thousand Dollars ($75, 000. 00; and to issue
and sell bonds to pay for the acquisition and purchases
therefor; to provide a tax, if such be required, to pay
the interest and redemption of such bonds, and directing
that the question of the issuance of said bonds shall be
submitted to the qualified voters of said municipality.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Burgess MAYOR and Council of Boonsboro, a
Municipal Corporation, be and it is hereby authorized and
empowered to acquire the assets or stock or the Boonsboro
Water Company by condemnation or otherwise, and to make
repairs, improvements and additions thereto, and to oper-
ate and maintain the same for the use and benefit of the
inhabitants of Boonsboro and the immediate vicinity there-
of, for the purpose of supplying to such inhabitants a suit-
able and adequate supply of water for manufacturing,
industrial, and domestic purposes, and protection against
fire for said town and immediate vicinity.

SEC. 2. And be it further enacted, That for the pur-
pose of providing funds for the acquisition, or purchase
of said Water Works, the said Burgess MAYOR and Coun-
cil of Boonsboro be and it is hereby authorized and empow-
ered to borrow upon the faith and credit of the said town a
sum of money not exceeding Seventy-five Thousand Dollars
($75, 000. 00); and to issue and sell bonds, which bonds
shall be designated "Boonsboro, Maryland, Water Bonds",
and the money arising from the sale of such bonds shall
be used exclusively for the purpose contemplated by this
Act.

SEC. 3. And be it further enacted, That the said bonds
to be issued pursuant to this Act shall be dated as of such
date of issuance, shall be of such denomination, and shall
bear such rate of interest, not exceeding four per cent
(4%) per annum as shall be determined by ordinance by
the Burgess MAYOR and Council of Boonsboro, provided
that the interest on said bonds shall be payable semi-
annually, that said bonds shall mature in not exceeding
forty (40) years from the date of issue, and shall be for-
ever exempt from State, county and municipal taxation.
Said bonds shall be redeemable in whole or in part as fol-