PHILLIPS LEE GOLDSBOROUGH, ESQ., GOVERNOR. 1243

hereby authorized and empowered to borrow, on the faith and
credit of the town of Easton, the sum of twenty thousand dol-
lars ($20,000.00), in addition to the amount provided for in
section 2 of Chapter 117 of the Acts of 1910, and to issue
coupon bonds therefor in sums of one thousand dollars ($1,000,)
each, to be signed by the Mayor of Easton and countersigned by
the town clerk thereof, attested by the corporate seal of the
town; said bonds to be separately noted and recorded in a book
kept for that purpose. Said bonds shall have interest, at not
over the rate of five per centum-per annum, payable semi-annu-
ally on the first days of January and July in each year; and
shall be forever exempt from all taxation for State, county and
municipal purposes, and shall have printed on them a distinct
reference to this act, authorizing their issue. That three-fourths
of the moneys arising from the sale of said bonds shall be
deposited by the Mayor and Council of Easton in the name and
to the credit of the Easton Street Improvement Fund in some
bank in Easton; and that one-fourth (the remainder) of said
moneys, or so much thereof as may be necessary, .shall be used
by the Mayor and Council of Easton for the construction of the
necessary storm sewers in the streets to be built and constructed,
and the surplus remaining after building the said storm sewers
to be paid to and applied by the Easton Street Improvement
Commission for any other purpose for which they are author-
ized to spend or to pay. out moneys connected with the street
improvement, as contemplated by this act; said moneys to be
deposited, kept and paid out, in the same manner as is provided
in the aforesaid act of 1910 for the payment of moneys out of
the Easton Street Improvement Fund.

SEC. 2. And be it enacted, That said bonds to be issued
under the preceding section shall mature and be paid and can-
celled by the Mayor and Council of Easton as follows: One
thousand dollars ($1,000) in each and every year beginning
with the year 1946 and running to the year 1951, inclusive, and
two thousand dollars ($2,000) per year during each and every
year from 1952 to 1958, inclusive, or until the whole of said
bonds shall have been paid, and the date of issue shall be the
same on all bonds, which date shall be July 1st, 1912. And
the same shall be advertised by the Mayor and Council of
Easton, and sold to the highest bidder for cash, whenever
requested in writing, by the Easton Street Improvement Com-
mission as to do, provided that the same shall be sold for not
less than par value and accrued interest.

SEC. 3. And be it enacted, That to pay and cancel the said
bonds issued under this act, the Mayor and Council of Easton