1782 ARTICLE 7.

by the Mayor and Common Council of Manchester, to be exclusively used
for the purpose of this Act, and all taxes, charges and assessments levied
and collected as hereinafter provided for the payment of the interest and
principal of said bonds shall be likewise kept as a separate fund by said
Mayor and Common Council of Manchester. Said bonds shall be a lien
on all of the property within or outside of the corporate limits of Man-
chester, Carroll County, under the jurisdiction of the Mayor and Common
Council of Manchester.

1924, ch. 93, sec. 5.

195. For the purpose of retiring the said bonds authorized to be
issued by this Act, and the payment of the interest thereon, there shall be
levied against all the assessable property within the corporate limits of
the said town of Manchester, Carroll County, by the Mayor and Common
Council of Manchester, Carroll County, annually so long as any of said
bonds are outstanding and not paid, a tax sufficient to meet the interest
or any part of said interest on said bonds as it becomes due, and to pay the
principal thereof as they mature, said tax to be determined, levied, col-
lected and paid over in the following manner: At least 30 days before
the tax levying period of each year the said Mayor and Common Council
of Manchester shall then determine the amount necessary to be raised for
the ensuing year for the payment of the interest or such portion thereof,
and proportionate part of principal of said bonds in any one year to be
determined by the usual table of redemption of bonds by annual deposit
in a sinking fund on interest, if sinking fund bonds are used, or the
amount to be paid on the principal of said bonds in any one year, if serial
bonds are used, to be determined by the amount of the bond to be matured
or redeemed that year, and after deducting all amounts in hand applicable
to payment of interest and principal on said bonds, as hereinafter pro-
vided, it shall determine the number of cents per $100 necessary to raise
the said amount, and the said Mayor and Common Council of Manchester
in their next annual levy shall levy said tax on all land and improve-
ments and any other property assessed for purposes within said town of
Manchester, which tax shall be levied and collected as the said town taxes
now are, or may be hereafter by law levied and collected, and have the
same priority rights, bear the same interest and penalties, and in every
respect be treated the same as said taxes, for the town of Manchester now
are. The tax so levied for the ensuing year shall be collected by the tax
collecting authorities and every sixty days the said tax collector shall
remit the full amount of the tax so collected to the Mayor and Common
Council of Manchester. From the money so received, together with the
amount in hand, to the credit of said bond fund, said Mayor and Common
Council of Manchester shall first pay all interest on said bonds as it
matures, and shall then deposit in some bank or banks in Manchester or
Westminster in their name as a fund to be known as the "Water Supply
Sinking Fund Account," if sinking fund bonds are used, or as a fund to
be known as "Water Supply Bond Account," if serial bonds are used, the
amount so raised for payment of the principal of said bonds. Should