SOMERSET COUNTY. 4409

Crisfield, for and during the three years next preceding the time after
which the said bonds are made redeemable, at the pleasure of the said
commissioners, when and as soon as the same may be received in each
of said years, shall be invested by the said commissioners in the purchase
of said bonds, provided the same, in the judgment of said commissioners,
can be obtained at a fair and reasonable price; and if said bonds can-
not be obtained, then, and in that case, such proceeds, as soon as conveni-
ently may be, shall be invested by the said commissioners in such other
interest-bearing securities readily convertible into money, as the said
commissioners may determine, and the said securities shall be sold, and the
proceeds thereof applied to the redemption of the said bonds, when and as
soon as the same are reasonable, at the pleasure of the said commissioners.
See sec. 99.

1894, ch. 289, sec. 92D.

104. The said commissioners of Crisfield shall cause a separate and
distinct account to be kept of the number and the amount of the bonds
issued; the name of the person by whom the same may be taken or held;
the am;ount received each year from the sinking fund tax so authorized to
be levied, and of the disposition thereof; and when and as soon as one or
more of the said bonds is or are purchased or redeemed, the same shall be
cancelled and destroyed; a memorandum of such cancellation and destruc-
tion describing such bond or bonds shall be entered on said account.

See sec. 99.

1908, ch. 648, sec. 1 (p. 993).

105. The Commissioners of Crisfield are hereby authorized to sell the
water works system now owned and operated by the town of Crisfield at a
sum not less than twenty thousand dollars.

See sec. 99.

1908, ch. 648, sec. 2 (p. 993).

106. In the event of such sale the Commissioners of Crisfield shall
use so much of the purchase money as may be necessary in creating a
sinking fund for the redemption of the bonded indebtedness of the said
town, when the same matures, and shall use the balance of the said pur-
chase money in public improvements in said town.

1908, ch. 506, sec. 66B (p. 992).

107. The Commissioners of Crisfield shall have authority to grant
franchises upon such terms as they may prescribe, to any person or per-
sons or corporation, to establish a water works system in the town of Cris-
field, and to lay water mains under the streets of said town, and to con-
vey water through pipes under the sidewalks of said town to residences
and other buildings.

See sec. 99.