92 LAWS OF MARYLAND [CH. 46

Treasurer or until his successor may be elected and
qualified.

The Treasurer shall make all collections of taxes and
receive all money paid for the use and benefit of said
corporation, and shall, upon the order of the Mayor and
Common Council make all the authorized disbursements of
said town. He shall keep an account of the receipts and
disbursements of the funds of the corporation, and shall
render the account to the Mayor and Common Council
when required by them, for all moneys received by him
and shall promptly disburse on the order of the Mayor and
Common Council under such regulations as they may pre-
scribe, all sums of money so received by him. He shall
receive for his services such sum as the Mayor and Com-
mon Council shall designate.

1241 (h) The Mayor and Common Council are hereby
empowered to borrow money for the purpose of public
improvements in said town, in such sums as they may
deem proper in their discretion not to exceed in the aggre-
gate the sum of [Two Hundred] Three Hundred Thousand
Dollars, such sum or sums of money to be payable at such
times as the said Mayor and Common Council may agree
upon with the lenders, subject to the limitations herein-
after set forth, and to issue therefor bonds in sums of not
less than One Hundred Dollars nor more than Five Hun-
dred Dollars each; each bond to be signed by the said
Mayor and Common Council and countersigned by the
Clerk thereof, and all of them to be issued at the option
of the Common Council and to bear rate of interest not
to exceed six per centum per annum, such bond or other
evidences of debt to be the general obligations of the Town
of Seat Pleasant. The interest on said bonds hereby
authorized to be payable semi-annually, according to the
terms of coupons to be attached thereto, and the coupons
thereon, when due, to be receivable for municipal taxes
due to the said Town of Seat Pleasant, the said Common
Council to annually set aside as a sinking fund a sum not
less than ten per cent of the municipal taxes collected as
such during each succeeding year, until such bonds as may
have been issued by said Common Council shall mature as
provided in this or any other Act, when said fund shall be
applied to the liquidation and redemption of the same.

1246 A. (a) The Mayor and Common Council of Seat
Pleasant are hereby authorized, when in its judgment it is
deemed expedient or necessary, to plan, design, construct,
maintain and operate a system for the control and disposi-