2608 ARTICLE 11.

if serial bonds, shall be so issued as to mature within at least thirty years
from their date; but if said bonds are sinking fund bonds, they shall be so
issued as to mature in thirty-five years from their date. If for any reason
the commencement of the work of constructing the water supply system
shall be delayed beyond July 1, 1924, then the said Mayor and Council
of Mt. Airy is authorized, empowered and directed to date all of said
bonds at such period of any year in which the work of construction is being
started, as may be suitable, and to fix the maturity of said bonds from that
date.

1924, ch. 126; sec. 4.

593. When said bonds shall be executed as herein prescribed, the said
Mayor and Council of Mt. Airy shall advertise the same in at least one
newspaper published in Carroll County, and may advertise in one news-
paper published in the City of Baltimore, inviting sealed proposals for
the purchase of said bonds, or any part thereof, with the privilege of said
Mayor and Council of Mt. Airy to reject any or all bids. The Mayor
and Council of Mt. Airy aforesaid may advertise the said bonds for such
length of time as in its discretion is a dequate notice to the public, and
may offer all of said bonds for sale at the same time, and may offer them
at different intervals, in such installments and amounts as it may deem
advantageous to said town in carrying on the work of constructing or,
acquiring the property for which the same are issued. The money arising
from the sale of said bonds shall be kept as a separate fund by the Mayor
and Council of Mt. Airy, to be exclusively used for the purpose of this
Act, and all taxes, charges and assessments levied and collected as herein-
after provided for the payment of the interest and principal of said bonds
shall be likewise kept as a separate fund by said Mayor and Council of
Mt. Airy. Said bonds shall be a lien on all of the property within or
outside of the corporate limits of Mt. Airy, under the jurisdiction of the
Mayor and Council of Mt. Airy.

1924, ch. 126, sec. 5.

594. 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 Mt. Airy, by the Mayor and Council of Mt. Airy, 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 deter-
mined, levied, collected and paid over i'n the following manner: At least
30 days before the tax levying period of each year the said Mayor and
Council of Mt. Airy 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