ALBERT C. RITCHIE, GOVERNOR. 5

age and drainage systems of Pocomoke City; and to provide
for the payment of the interest on the said bonds and of
the principal thereof as the same shall mature; and to pro-
vide for the levying of taxes for the purpose of paying said
principal and interest; and to create a Sinking Fund for
the liquidation of said bonds.

SECTION 1. Be it enacted by the General Assembly of
Maryland], That for the purpose of providing funds for the
improvement, repairing and extension of the water, sewerage
and drainage systems of Pocomoke City, the Mayor and Coun-
cil of Pocomoke City be, and it is hereby authorized and em-
powered to borrow a sum of money not exceeding Fifty Thou-
sand ($50, 000. 00) Dollars, upon the faith and credit of the
Town of Pocomoke City, and to issue and sell coupon bonds
therefor of a par value of not exceeding Fifty Thousand
($50, 000. 00) Dollars, in sums of not less than One Hundred
($100. 00) Dollars and not more than One Thousand ($1, 000. -
00) Dollars, each; said bonds to be signed by the Mayor of
the said town and countersigned by the Treasurer thereof,
with the corporate seal of said town attached; and to be desig-
nated as "Pocomoke City Water and Sewer Bonds of 1929. "
Said bonds shall be issued as of January First, Nineteen Hun-
dred and Twenty-nine, and shall bear interest at the rate of
not to exceed Five (5%) per centum per annum, payable
semi-annually, on the First days of July and January in each
and every year, until the said bonds are paid. Said bonds
shall be registered by the Treasurer of said town, in a separate
book kept for that purpose, and shall be forever exempt from
taxation for State, County and Municipal and other local pur-
poses, and shall have printed on them a distinct reference to
the Act directing their issue.

SEC. 2. Be it further enacted, That said issue of bonds
shall be numbered consecutively, beginning with Number One,
and shall mature and be payable in the order of their numbers,
as follows: Two Thousand ($2, 000. 00) Dollars on January
First, Nineteen Hundred and Thirty-three; and Two Thou-
sand ($2, 000. 00) Dollars on January First of each year there-
after, until the entire issue of bonds is paid in full. All of
said bonds may be sold either at private or public sale, or
sales, as a whole, or separately or in groups, and at such place
or places, and at such time or times as in the discretion of said
Mayor and Council may seem advisable, until all of said