5122 ARTICLE 23.

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 bonds to be matured or retired that year, and it shall

deduct therefrom all amounts in hand applicable to the payment of interest
and principal on said bonds, as herein provided. It shall certify this
amount to the Mayor and Council of Salisbury, and the Mayor and Coun-

cil of Salisbury in its next annual levy shall levy a tax sufficient to raise
the said amount on all land and improvements and any other property
assessed for municipal purposes within said City of Salisbury, which tax
shall be levied and collected as the said city 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 the said taxes for the City of Salisbury now are. The tax so
levied for the ensuing year shall be collected by the tax collecting authori-
ties, and every sixty days the said Tax Collector shall remit the full
amount of the tax so collected to the Commission. From the amount so
received, together with the amount in hand to the credit of said bond fund,
said Commission shall first pay all interest on said bonds as it matures
and shall then deposit in some bank or banks in Salisbury in its name as
a fund to be known as the "Water Supply and Sewer Sinking Fund Ac-

count," if sinking fund bonds are used, or as a fund to be known as the
"Water Supply and Sewer Bond Account," if serial bonds are used, the
amount so raised for the principal of said bonds. Should the receipts
from said taxes or other sources be inadequate to deposit the principal
payment on said bonds, by reason of defaults or otherwise, such deficiency
shall be added to and collected in the next year's tax, if sinking fund
bonds are used, or such deficiency shall be made up by a special tax on
all the property taxed as aforesaid, if serial bonds are used. The said
Commission is authorized to pay the interest on any bonds it may issue
prior to the first tax levying period out of the proceeds of the sale of said
bonds. In order that the prompt payment of interest and the proper pro-
vision for the payment of the principal of said bonds shall be assured, the
prompt and proper performance of the respective acts and duties hereto-
fore defined is specifically enjoined, and any failure upon the part of any
person, persons, body. corporate or agent to perform the necessary acts
and duties heretofore set forth, to pay over the said funds as required, or
to use said funds or any part thereof for any other purpose than for the
payment of the principal and interest on said bonds, is hereby declared
a misdemeanor and punishable as other misdemeanors are punishable by
Section 338 of this subtitle.

1924, oh 494, sec. 15. 1929, ch. 42, sec. 15.

335. For the purpose of providing funds for maintaining, repairing
and operating its water supply, sewerage and drainage systems, including

overhead expense and proper depreciation allowance, the Mayor and

Council of Salisbury shall be empowered and directed to make such