1980 WASHINGTON COUNTY. [AET. 22.

1884, ch. 58.

200. The mayor and council shall cause to be kept a careful
register of the bonds so issued and the transfers thereof, and as
the same are called in and paid off, they shall be cancelled, and a
record of such cancellations by numbers, amounts and names of
last holders of said bonds shall be made and entered upon the
books in which said bonds are registered.

1886, ch. 400

201. The mayor and council are authorized and empowered to
borrow a sum of money, not exceeding ten thousand dollars, on
the faith and credit of the town, as hereinafter provided, which
shall be known and designated as the drainage fund, and which
ishall be applied and used exclusively for the construction of suffi-
cient drains and the improvement of the drainage and water-
courses of the town; and warrants for the expenditure of the
same shall be drawn by the board of street commissioners, as pro-
vided in section 167.

Ibid.

202. To provide for borrowing the money as authorized by
the preceding section, the mayor and council are empowered to
issue bonds in such denominations as they may determine; said
bonds to be signed by the mayor and attested by the clerk to the
mayor and council, with the seal of the town attached, and regis-
tered in a book to be kept by the said clerk, and to bear interest
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
ten thousand dollars, as aforesaid; and said bonds shall not be
liable to county or municipal taxation.

Ibid.

203. And to provide for the payment of said bonds, as author-
ized by section 201, as they shall mature, and for the payment
of the annual interest thereon, there shall be levied by the mayor
and council, annually, for two years, an amount sufficient to pay
the interest on said bonds so issued; and at the expiration of two