ART. 22.] HAGERSTOWN. 1979

at the rate of four per centum per annum, payable on the first
days of January and July, in each and every year, until the prin-
cipal of said bonds is paid; said bonds to be sold at public auction
at such times and in such amounts as shall be required of the
mayor and council by the board of street commissioners, pro-
vided the whole amount of said bonds issued shall not exceed
twenty thousand dollars, as aforesaid; said bonds shall not be
liable to county or municipal taxation.

1884, ch 58.

198. There shall be levied by the mayor and council, annu-
ally, for three years, an amount sufficient to pay the interest on
the bonds so issued; at the expiration of three years, there shall
be levied annually, by the mayor and council, an amount suffi-
cient to pay the interest on the debt, and one thousand dollars of
the principal thereof; and the mayor and council shall thereafter
pay, annually, one thousand dollars of the principal of said debt;
and the said bonds, when issued, shall be made to fall due so as
to be payable as herein provided.

Ibid.

199. Said bonds, when signed by the mayor and attested by
the clerk, as provided in section 197, shall be handed over to the
tax collector, who shall receipt for the same, which receipt shall
be filed and safely kept by the clerk to the mayor and council;
and the bond of the tax collector shall be responsible for the safe
keeping by the tax collector, of said bonds and the proceeds
thereof; the tax collector shall sell said bonds at public auction
at such times and in such amounts as the mayor and council shall
order; he shall transfer and deliver the same, as sold, to the pur-
chaser, and receive the money therefor, and shall report under
oath to the mayor and council his proceedings in the premises,
with the names of the persons to whom said bonds have been
transferred, together with the amounts received by him from said
sales; said money shall be credited on the books of the tax col-
lector to the special improvement fund, and paid out by him for
the purposes named in section 196, for which it was received,
and in the manner as provided in sections 166, 167 and 168.