THEODORE R. MCKELDIN, GOVERNOR 879

levying of taxes by said Commissioners to repay the
loan and the interest thereon, and exempting interest
payable thereon from State, County and municipal
taxation.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That the Commissioners of Aberdeen be and they are
hereby authorized and empowered to borrow at such time
or times as they may decide upon the faith and credit of
the Town of Aberdeen, a sum or sums of money not to
exceed One Hundred and Fifty Thousand Dollars ($150, -
000), at a rate of interest not to exceed five per cent
(5%) per annum, for the purpose of the installation of
sewerage and water pipe lines in Aberdeen.

SEC. 2. And be it further enacted, That the said Com-
missioners of Aberdeen are hereby authorized to borrow,
under the provisions of this Act, from such bank, banker or
trust company, or from any other source, as they shall from
time to time select, for the purpose of carrying out the
intent of this Act. The said Commissioners are authorized
to execute and deliver negotiable promissory notes, certifi-
cates of indebtedness, and/or bonds of the Commissioners
of Aberdeen, to be signed by the President of said Com-
missioners and the Treasurer of said Town, with the seal
of the Town affixed thereto, in such denominations, pay-
able at such place and at such date or dates as the Com-
missioners of Aberdeen shall by resolution provide, and/or
to issue and sell said notes, certificates of indebtedness
and/or bonds upon the faith and credit of the Town of
Aberdeen such amount or amounts as said Commissioners
shall determine, but the total amount of such notes, cer-
tificates of indebtedness, and/or bonds issued under this
Act shall not exceed One Hundred and Fifty Thousand
Dollars ($150, 000). The said notes, certificates of indebt-
edness and/or bonds shall bear interest at such rate or
rates, not exceeding 5% per annum, as shall be provided
by resolution of the Commissioners, and in the event of
issuance of bonds, to be evidenced by semi-annual coupons
attached to said bonds and bearing the facsimile signa-
ture of the Treasurer of Aberdeen. If bonds are issued,
the provisions of Sections 33 and 34 of Article 31 of the
Annotated Code of Maryland (1951 Edition) shall be
complied with. Said Commissioners are authorized to bor-
row under the provisions of this Act by selling the nego-
tiable promissory notes, certificates of indebtedness and/or
bonds herein authorized, at a discount less than the prin-
cipal amount thereof, provided that such discount shall
not exceed 5% per annum on the principal of said loan.