ART. 22.] HAGERSTOWN. 1981

years there shall be levied, annually, by the mayor and council, an
amount sufficient to pay the interest on the debt, and one thous-
and dollars of the principal thereof; and the mayor and council
shall thereafter pay annually, one thousand dollars of the prin-
cipal of said debt; and the said bonds, when issued, shall be made:
to fall due so as to be payable as herein provided.

1886, ch. 409.

204. Said bonds, when signed by the mayor and attested by
the clerk, as directed in section 202, 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
transfered, 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 drainage fund, and paid out by him for the purpose;
named in section 201, for which it was received.

Ibid

205. 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 cancellation, 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.

1880, ch 457.

206. The mayor and council are authorized and empowered
to enter into and make contracts with a joint stock water com-
pany, to be hereafter formed, binding the corporate authorities of
Hagerstown to pay, annually, to such joint stock water company,
the interest at the rate of six per centum per annum; provided,
said interest shall not exceed the sum of four thousand dollars,