4744 ARTICLE 22.

of water, the "Burgess and Commissioners of Funkstown" are hereby
authorized and directed to borrow money on the credit of said town to an
amount not to exceed the sum of fifteen thousand dollars ($15,000.00),
and to issue registered bonds of said town in payment of said sum, or so
much thereof as is necessary for the establishment and construction of the
said water distributing system, and the accrued interest on said bonds.
The said bonds shall be issued in denominations of not less than one hun-
dred dollars ($100.00), nor more than one thousand dollars ($1,000.00)
and each of said bonds shall be sealed with the corporate seal of said town
and shall each be signed by the Burgess and countersigned by the Clerk to
the Burgess and Commissioners and shall be registered by said Clerk in a
book to be especially provided for that purpose; said bonds to bear interest
not exceeding the rate of five per cent. (5%) per annum, payable semi-
annually, by said "Burgess and Commissioners of Funkstown." The said
bonds shall be issued at such times and for such term of years as the
Burgess and Commissioners shall determine. The said bonds shall be sold
either at public or private sale as the said Burgess and Commissioners
shall decide is for the best interest of the taxpayers of said town, and shall
be sold for cash and for not less than their par value; they shall be exempt
from all State, County and Municipal taxation, and shall have printed on
them a distinct reference to the Act of Assembly authorizing their issue.

1929, ch. 67, sec. 2.

222. The "Burgess and Commissioners of Funkstown" are hereby
authorized and directed to levy and collect all necessary taxes on the
assessable property within the corporate limits of said town for the pay-
ment of the interest on said bonds as it becomes due, as well as to redeem
and pay said bonds as they mature, and to provide for the operating ex-
penses and the necessary repairs to said Water Distributing System if at
any time the receipts from water rates shall prove insufficient therefor.
Taxes levied for such purposes and collected by the town tax collector,
shall be paid by the said collector to the treasurer of said Water Board
each year.

The moneys arising from water rents shall be applied, first to payment
of current expenses of said Water Distributing system; secondly, to pay-
ment of interest on bonds, and, thirdly, as to any balance to provide a
sinking fund for the payment of said bonds, and when any bond is paid
off it shall immediately be burned and the fact noted in the registration
book hereinbefore required and said Water Board is hereby directed to
provide and locate convenient hydrants and fire plugs for the protection
of property from fire.

1929, ch. 67, sec. 3.

223. The provisions of the preceding sections of this Act shall not
become effective unless the same, when submitted, as hereinafter pro-
vided, to the qualified voters of Funkstown at the next regular or special
town election, held in said town shall be approved as hereinafter pro-
vided. After the passage of this Act, the "Burgess and Commissioners of